You must read previous articles and watch the given chart
carefully to understand this article completely.
For 29 April 2015: -
On 28 April 2015, FII Sold INR 1532.84 crs and DII Bought INR
1537.08 crs
I was expecting technical support at 8150 but it took a
bounce form 8185 levels itself. We are near to derivative expiry for this month
trades. Market it on sell mode from 15th April 2015 onwards with
just two positive close in between. This shows the pain of the market. We saw
100 points bounce yesterday. I just pass yesterday’s trading session for index
to save our self from odd volatility. I definitely do not want to short from
low.
I still suggest that we should restrict trade till expiry. Expiry
may have ugly volatility where traders may get trapped in illusion of
opportunities.
For today’s trading session, I am expecting flat opening. We will
see immediate trading support at 8240 and then at 8185 levels. 200 DMA has
extended and now it is at 8264 levels. We got close above 200 DMA. Today may be
a litmus test for bulls and bears both. Once again, do not trade uncertain market
moves.
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Strategy for Nifty May future – close to April month expiry we may
see many odd and uncertain moves. This may continue till tomorrow. It looks to
give some recovery but there is no reliability for this recovery yet. This may
again fall from higher levels. If one get trapped then it can give big pain.
S&P 500 (USA) – Almost all major US indices are
knocking for higher breakout. I still feel that bulls are not very keen to see
decisive breakout for further rise. Since November 2014 itself it is not
showing strength to move much above 2100 levels. We are at no trade zone. Do not
trade long and do not trade short either. Just stay on side line. I must say
that I like to trade short but I need to see few sell signals first.
