You must read previous articles and watch the given chart
carefully to understand this article completely.
For 03 July 2015: -
On 02 July 2015, FII Sold INR – 575.32 crs and DII Bought INR
219.02 crs
A positive divergence is here on Nifty versus MACD chart. What
this indicates? Can it give us a result as 8500+ levels? I may accept this
situation for a bounce before some choppy trades. Price corrections are coming
in form of choppy moves. This used to happen in bullish market but right now
market is out of bullish mode. Hence, I have sufficient reasons to make doubt.
For today’s trading session, I am expecting mild weak
opening. Now I can quote that as long as it is above 8400 we may not have any
immediate threat. Still, 8400 is not too far. Take a note that currently Nifty
is facing resistance on 100 DMA which is at 8470 levels. If it has to show
further strength then Nifty has to cross above 8500 levels.
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Strategy for Nifty July future – Nifty July month future will get
support at 8400 to 8380 levels. It is reacting at 100 DMA resistances. We cannot
expect further strength without any reaction. Even if small gap down comes and
it sustain then we can expect a mild selling. I am not interested in trading
long at 100 DMA resistance.
S&P 500 (USA) – Us market gave the most desired dip
but still we do not great sense for big dip yet. Global indices are again
reacting on possible save of Greece. HOW SHALL WE TAKE THIS BOUNCE? 101% do not
get tempted. We are bound to see another major crack in coming few days. I have
already expressed my fear about July month sell off. You can expect 2045 by
early next week.
