You must read previous articles and watch the given chart
carefully to understand this article completely.
For 01 June 2015: -
On 29 May 2015, FII Bought INR – 2284.30 crs and DII Sold INR
2267.88 crs
I was expecting the range of 8450 to 8500 in this rise and we
got the desired rise on Friday’s session. Good part is that momentum is still
intact in favour of recovery. A final litmus test will emerge around 8500 marks
only. We may see hurdle here and there around resistance. I have some forwarded
long on Nifty which we bought at much lower levels.
At one sense one can say that after a strong rise on Friday
we may see some choppy moves today near resistance levels. If that happens then
we may not see good trading opportunities. I am not interested in adding more
fresh long here. In fact if I get desired signal then I may prefer to move out
of my long.
For today’s trading session, I am expecting a flat to
cautious start. After that we will see technical support in the zone of 8400 to
8380. If one wants to be on trading long then also one must wait for some sustainability
above 8450 levels to see small rise. I must repeat 8500 may not looks easy even
after momentum. Once it crosses above 8500 with great momentum then only we can
expect fresh wave of rise. Money flow is not that much supportive. What is it
crosses above 8500? We may see 8700 by this week itself.
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Strategy for Nifty June future – practically we have long from
8290-8300 levels. We are sitting on good gain. I already have some plan to book
profit at these kinds of levels. I may opt to add long again once it crosses
above 8520 levels. In the downside we may see support emerging around 8430
levels. Be cautious at higher levels near resistance marks.
S&P 500 (USA) – This is on expected tug-of-war
situation. One day up next day down pattern is making indecisive to trade. The best
way to trade is no trade on this index. I still intact on my view, that US
index is on the making of long term top. So far, it has slipped from 2135 to
2105 levels. This is the level which S&P 500 is maintaining from November
2014 itself.
