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For 05 May 2015: -
On 04 May 2015, FII Bought INR 60.53 crs and DII Bought INR
146.80 crs
I was definitely talking about this bounce which came
yesterday. It was too fast in some part of trading session. Technically it has
closed well above 200 DMA. Right now, it is almost 60 points higher than 200
DMA. This may be first sign of revival. Will it revive from here. I can say one
thing that if this market has to revive then this must be the levels. Equally, I
am not betting for any big rally kind of mode in market. It may be a short term
price correction against some sharp fall in past month.
May month is usually a bad month for global equity price. Indian
market will open May month trade on nervous note. I still feel that a recovery
is nearer now. Nifty is constantly trading below 200 DMA.
For today’s trading session, I am expecting a silent to
negative opening. I have not preferred any BTST. I took long on intraday and
booked yesterday in last minutes of trade. In true sense support will come only
at 8275-8265 levels. On higher side we may have scope for 8400 to 8450 levels. Can
it come quicker?
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Strategy for Nifty May future – I took long at 8300 and booked my
long yesterday in last 5 minutes at 8380 levels. This was a deal which I like
to repeat if I see good opportunity. For caution, I say that one should prefer
to buy dip only with suitable stop loss as key support 8300 to 8280 levels.
S&P 500 (USA) – I retain my view for resistance. It
is clear that S&P is still facing tough resistance at current levels. I
have not picked any trade yet but my view point for correction is still alive. As
of now I can say that one should wait for concrete trading signal. Technical resistance
is at 2120-2125 levels. Technical support will emerge at 2095 levels. Expect
weakness on close below 2095.
