You must read previous articles and watch the given chart
carefully to understand this article completely.
For 03 June 2015: -
On 02 June 2015, FII Bought INR – 594.14 crs and DII Bought
INR 271.64 crs
Well, what has happened yesterday? I have predicted for 25
bps rate cut and also predicated for fall below 8400 on Nifty Future. It went
in the same way and we capitalized full 180 points of fall. I need your
attention towards rate cut even. Is RBI really working as cheer leader for Modi
Government? It seems so. It was very clear that rate cut decision came under
pressure. How can one say that inflation will go higher but I am giving you
rate cut. More over monsoon forecast is also below normal. GDP figure? Current
GDP data has lesser reality. Rise in GDP is just because of change in base
year.
When it comes to trade I just keep all above mentioned
factors at one side.
For today’s trading session, I am expecting a flat to negative
start. Have you feel support at 8339 levels? No? It was 200 DMA supports which have
just broken without any notice. I hold my shorts on Index. Technically, I am
expecting a move towards 8150 to 8100 levels.
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Strategy for Nifty June future – We did not do much. Just added
short @ 8405 in just very first minutes and then closed our eye from watch
terminal. I just followed my technical blindly to make good gain. I am still
short and I have planned to book some profit if I see this market going choppy.
My possible support is 8160 to 8140 where I like to close my short. Note that I
have no plan to buy yet.
S&P 500 (USA) – This is oscillation in the range of
2100. We saw a low of 2099 and then a bounce but still closed negative. This is
seventh month of choppy trades in US indices. I consider this phase as a phase
of consolidation for long term top formation. I still not found a concrete sell
signal to trade but I see a possible washout on US index by this month. Below
2095, we may see the beginning.
