You must read previous articles and watch the given chart
carefully to understand this article completely.
For 30 June 2015: -
On 29 June 2015, FII Sold INR – 711.88 crs and DII Bought INR
906.38 crs
I had posted a technical target of 8200 on Nifty. It hit a
low at 8196 and then took a rebound of more than 125 points. This shows the
strength of technical support at 8200. India might be one such market which has
reacted least on Greece development. I cannot deny further impact. Technical charts
are giving hints for side wise movement for Nifty now.
For today’s trading session, I am expecting a weak opening as
getting hint from SGX Nifty. It may be due to 350 points sell off on Dow Jones
last night which was more than what market were expecting yesterday. Still, technical
support is at 8280 to 8250 zone for trading. It is likely to open around 8280
so 8250 may come in force immediately. I have forwarded long from yesterday which
I may book. Avoid all banking stocks.
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Strategy for Nifty July future – One can expect opening around 8390
levels which may be interesting. Key supports are as 8275 and then straight at
8250-8240 levels. If it comes around 8240 then it may be back to square. I am
expecting a choppy session as it may be break down immediately. If times
favours then market may again go in buy mode just like yesterday but event
based predication before Greece is just not possible.
S&P 500 (USA) – There were times when people said
that Greece does not matter to the world. Really? Now it matters all. Close below
2070 has a good hint for the test of 2045. Now, keep technical analysis at one
side as it has given enough hints for long term top when it was near 2130 few
days ago. Let us see what is going to happen in Greece now. Will Greece be the last nail for multi-year
rally? I have written enough for shorting when it was at 2130 levels.
