You must read previous articles and watch the given chart
carefully to understand this article completely.
For 27 May 2015: -
On 25 May 2015, FII Bought INR – 114.81 crs and DII Bought
INR 123.85 crs
This dip is in line with my expectation. Yesterday it has
challenged 200 DMA on down side. Basics of technical analysis are suggesting
that below 8320 (which is 200 DMA) we may see some impulsive dip which should
be because of nervous nature of investors. Equally, we are just one more
trading session away from derivative expiry of May month series.
If 8500 is a short term top or say a trading top then we have
chance of hitting 8200-8150 as next level of support which is giving a scope of
further 2% fall at least from here. Expiry can make things more odd and volatile.
Adding more spices, US indices seen a massive dip last night. We have STBT on Nifty
future.
For today’s trading session, I am expecting a big negative
opening. If it fails to recover after initial dip then we may see panic sell
off too. Technical charts are suggesting that below 8320 we have chance to see
8200-8150 as next range of key supports. You may expect trading support at 8260
before that.
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Strategy for Nifty June future – We had short on May Future from
8380 which we booked @ 8345 and then make a switch to June series from 8370
which we hold. Now, it is close to make a break below 200 DMA support. One 200
DMA breaks then we may expect a panic sell off. Nifty June Future can slide
towards 8300 to 8260 as of now.
S&P 500 (USA) – This is the dip which I have talked
in recent few days. Hope traders have saved themselves from a bull’s trap. This
is a key level to watch. I feel that long has done for now and a decisive dip
is on its way. After all, this is a range bounce indecisive market from past
more than six months. Below 2115 to 2120, it has generated a sell signal. It may
have first target in the zone of 2095 to 2090 levels.
