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carefully to understand this article completely.
For 11 May 2015: -
On 08 May 2015, FII Sold INR 437.56 crs and DII Bought INR
1114.38 crs
I got my desired bounce. I am still expecting 200 DMA to be
tested. 200 DMA is at 8282 levels which is still 90 points away. I am expecting
another good day today for bulls. If this market has to react then reaction
point must be near to 8282 levels. It can either make or break. I have long
from Thursday’s low and we are in good comfortable position.
I am expecting 8282 by today itself. If not then this figure
can be achievable tomorrow. There is no point to shorting at any point now unless
reaction comes at 8282 levels.
For today’s trading session, I am expecting a gap up. Technical
support will come at 8150 levels. On higher side 8225 may be a soft resistance.
Once it stands tall above 8225 then we can see sharp rise towards 8282 levels. If
time favours then this recovery can extend as big as 8450-8500 levels. So, do
not short.
80% chance is that we have tested a short term bottom on last
Thursday only.
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Strategy for Nifty May future – We have forwarded long which we
bought from Thursday at 8040 to 8035 levels. I am expecting rise to continue. I
may opt to hold this long for whole this week itself. Technical support for
today’s session after a gap up will be at 8220 to 8200 levels. Can it hit 8300?
Yes, it can.
S&P 500 (USA) – I have not traded long on this
index but I was definitely sensing this rise. It was quoted for a soft buy
signal on Friday’s session. We got massive more than a percentage rise in last
trading session. Technically, 2120 to 2125 may be a resistance. I must add that
technical target or resistance can be at 2145. I am quoting 2145 from last year
November month itself. No trade can be suggested as of now for bears.
