You must read previous articles and watch the given chart
carefully to understand this article completely.
For 31 March 2015: -
On 30 March 2015, FII Sold INR 240.34 crs and DII Bought INR
651.67 crs
Bounce extended as expected and it moved parallel with global
recovery. Now a litmus test will emerge at 100 DMA which is right now at 8533
levels. One can expect trading support at 8470 to 8450 levels. This is the
levels up to which we can expect life for this recovery.
Today is the last trading session of financial year 2015 –
2016. Historically, this is known to be a dull day. There is high chance to
happen this as major past of recovery has done by yesterday only. I still feel
that odd 40-50 points of rise on Nifty is still possible but caution advised at
higher levels.
For today’s trading session, I am expecting a flat opening. Immediate
trading support is at 8470 to 8450. I still like to trade with a buy. One should
be cautious at 8535 levels. This is equally true that if it stands tall above
100 DMA then we can expect second round of buying. Can it happen? Can it happen
today?
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Strategy for Nifty April
future – Rebound
continues without any intraday pull back yesterday. Technically, this rebound
will continue as long as it holds 8420 to 8400 levels. On higher side we can see
a resistance emerging at 8510 to 8520 levels. One has to be cautious at higher
levels for once near 100 DMA. If it can sustain above 100 DMA then we can
expect a rise, a fresh rise.
S&P 500 (USA) – We got a desired bounce. This
bounce took S&P above 2075 marks which were expected in our past articles. Question
is what will come on the last day of current financial year? Well, so far we
can expect some hangover rise today also. It can show resistance on 2096 before
2119. Once again, rise should get truncate near at 2096 levels which will be
suitable to add short.
