You must read previous articles and watch the given chart
carefully to understand this article completely.
For 30 March 2015: -
On 27 March 2015, FII Sold INR 320.52 crs and DII Bought INR
674.76 crs
Friday’s fall has changed many technical viewpoints. I was
expecting price recovery but it came after a much deeper low which was at 8269
levels. Still we were able to see a zero percent change closing. For this week
8269 will play as key support in any dip.
Big question is still there. Will it break or test 200 DMA as
easily as it looks? I strongly believe that it is going to happen sooner or
later. Well, before that we are bound to see a price recovery as price fall is
very sharp so far for March month. I still hope for a price recovery and I will
play for it. At some higher levels, this recovery will miss air and it will
give time for short.
For today’s trading session, I am expecting a cautious
opening and then a support can either emerge at 8300. We can expect 8269 to act
as weekly support. From near to 200 DMA caution is very obvious word. Minimum expected
levels fo far for this recovery can be above 8400 levels which may come by
early this week.
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Strategy for Nifty April
future – It has seen
some good rebound from low point on Friday. This may continue. Based on
technical chart if it can sustain above 8470 then we can see some good extension
for recovery. I definitely like to add long on any impulsive dip for intraday.
S&P 500 (USA) – A price recovery is still expected.
It does not matter where it dies. It may end up at 2075 or at any other levels.
So far this is a rebound from 2035 support levels and it has life so far. This is
a new week and a new financial year will from Wednesday. Technical support for
the day will be at 2050 and for this week it will get support at 2035 levels. I
still warn that market may see a fresh dip from higher levels.
