You must read previous articles and watch the given chart
carefully to understand this article completely.
For 30 April 2015: -
On 29 April 2015, FII Sold INR 718.31 crs and DII Bought INR
912.46 crs
Tussle continues near 200 DMA. Although I traded long to get
good gain intraday trade, I can say that bears are on winning note. We have derivative
expiry today for April month series. Today is last trading day of the week too.
Hence, market may go on wild note.
My anticipation is that there must be many traders left in
the market who may have forwarded long as they have not got many opportunities
to exit. They may go nervous on expiry day. Hence we should give edge to bears
only. From past many expiries we saw that expiry day used to follow same
direction which market used to stay in past few days. Clearly, market was down
from past many days.
For today’s trading session, I am expecting negative opening.
It may open in the range of 8200 levels. We will see immediate trading support
to emerge at 8150 but I am strongly doubtful about support today. Today be as
wild as it can give a crash towards 8000 kind of levels too. Just hope that 8150
works. If not then 8000 is not too far. On higher side, nothing is safe.
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Strategy for Nifty May future – we have derivative expiry today and
there is no sign of revival. It may see continuation of fall today also. On higher
side it has resistance at 8350 and then at 8380 levels. In the downside 8250 is
a support below which it can see a crash.
S&P 500 (USA) – It has again turned down from near
to 2120 levels. It is limiting its trading range near to 2120 levels but there
is no any good sign to short yet. On higher side it still tough to trade
although it has hint for advance towards 2145 levels. I will maintain distance
from this index when we have so many opportunities in Indian indices. There is no
possibility of good short signal unless S&P close below 2096 at least.
