You must read previous articles and watch the given chart
carefully to understand this article completely.
For 27 March 2015: -
On 26 March 2015, FII Sold INR 521.23 crs and DII Bought INR
687.09 crs
What a way to end the March Series. It has closed on day’s
low as well as lowest point of March series. You can refer to the chart how
crucial it was. Let me update first – 200 DMA is at 8165 and 100 DMA is at
8530. News flow from Yemen has turned heavier over any technical view and this
may remain same. I am keeping news flow at the corner.
Technical recovery is also a basic rule just like technical
correction. We can hope for correction but market has biggest threat now. Can
technical recovery sustain? My answer is NO. Sooner or later it will break 200
DMA also. I may trade for a bounce but I will avoid all short term to long term
buy.
For today’s trading session, I am expecting a cautious
opening and then a support can either emerge at 8300 or it will break to make
another bad day. On higher levels we may not see any reliable resilience for
market unless it go above 8400 to 8430. Selected stocks may perform but broader
market may remain weak.
Please visit our ‘intraday updates’ to get further updates or
to take good advantage join paid services.
Strategy for Nifty April
future – It has
opened yesterday near 8550 and then tank down further to 8450. Now, this can
never be easy to short this kind of fall which comes after gap down. For today’s
session, we may get opening around 8450 and support to some at 8420 levels. Should
I buy? Let us see. It depends on intraday strength but I strongly warn that
Nifty April future may see levels of 8000 also.
S&P 500 (USA) – To make it choppy, S&P
recovered from day’s low. I still believe that we may get few choppy trading
sessions before a fresh wave of fall. If we get some bounce in this process
then it will be better for bears. I found some upper range for this range
bounce activities. The level can be around 2075 where we can think to add fresh
short. Do not opt long in recovery as recovery may fail anytime.
