Net Gain = Profit 775 points – Loss 148 points = 627 Points of optimum profit

May month Nifty Future deals:

04 May 2015: Bought @ 8300/ Profit @ 8320(Intraday) Gain = 20 Points

06 May 2015: Bought@ 8300/ Loss @ 8280 (Intraday) Loss = 20 Points

06 May 2015: Bought@ 8145/ Loss @ 8128 (Intraday) Loss = 17 Points

07 May 2015: Bought@ 8070/ Profit @ 8140 (Intraday) Gain = 70 Points

07 May 2015: Bought @ 8040/ Profit @ 8270 (Positional) Gain = 230 Points

11 May 2015: Bought @ 8320/ Profit @ 8350 (Intraday) Gain = 30 Points

12 May 2015: Bought @ 8220/ Loss @ 8209 (Intraday) Loss = 11 Points

12 May 2015: Bought @ 8160/ Profit @ 8240 (Positional) Gain = 80 Points

12 May 2015: Bought @ 8120/ Profit @ 8260 (Positional) Gain = 140 Points

13 May 2015: Bought @ 8130/ Loss @ 8110 (Intraday) Loss = 20 Points

13 May 2015: Bought @ 8140/ Profit @ 8230 (Intraday) Gain = 90 Points

13 May 2015: Bought @ 8250/ Loss @ 8170 (Positional) Loss = 80 Points

14 May 2015: Bought @ 8165/Profit @ 8200 (Intraday) Gain = 35 Points

14 May 2015: Bought @ 8180/Profit @ 8240 (Intraday) Gain = 60 Points

15 May 2015: Bought @ 8240/Profit @ 8270 (Intraday) Gain = 20 Points

15 May 2015: Nifty Elliott wave analysis: Yesterday’s dullness at top is critical. It needs to sustain above 8260 to say for 8350. I am limiting trades now.

You must read previous articles and watch the given chart carefully to understand this article completely.

For 15 May 2015: -

On 14 May 2015, FII Sold INR 73.76 crs and DII Bought INR 302.57 crs

Now my hopes are not as strong as earlier. Every recovery got sold but every dip was also bought. What to conclude? This kind of pattern is known as a mess. If I have to favour then I will favour bulls. Equally, I must say that I neither have long nor short as of now. I will take trade as intraday deal only.  

Nifty must respect 8100 levels as key support before 8000 levels. I believe that it was just one day sell off to wash weak bulls. If that’s true, then also real challenge will emerge at 8350 levels.

For today’s trading session, I am expecting a silent opening. I have fewer cues for first half of trades. Most of the time it was wild for first hour in this week trades. Technically it may have good support @ 8180 and 8140. I suggest trading less for today. If banks favour bulls then only it can be different day. Else a dead trading is ahead.

80% chance is that we have tested a short term bottom on last Thursday only.

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Strategy for Nifty May future – I trades long yesterday which I booked in very last minutes of trade but I have no long forward trades. Technically, one can expect two supports; one is at 8200 and next is at 8140. Both are wild and gaps are big between supports. This may add volatility. I may prefer to trade long near support.

S&P 500 (USA) – I favour bulls for short term and it again went up. It is confirming my views. For today’s trading session it will face decisive resistance at 2120 to 2125 levels. Well, now I can say that if market reacts at higher point then it can be a level for short with stop loss just at 2125 levels. It is still a question if it can react at top or not. My long term view remains intact that US market is under a long term top formation.  

15 May 2015: Stock Chart Analysis for intraday: ANDHRABANK, IDEA and BPCL

ANDHRABANK (79.65)

Buy above 80/SL 79/ Target 82-84|| Sell below 78/ SL 79/ Target 77-76

IDEA (172.40)

Buy above 174/SL 172/Target 178-180 ||Sell below 169/ SL 171/ Target 167-165

BPCL (756.70)

Buy above 760/SL 754/Target 775-790||Sell below 749/ SL 755/ Target 735-730