You must read previous articles and watch the given chart
carefully to understand this article completely.
For 07 July 2015: -
On 06 July 2015, FII Bought INR – 149.37 crs and DII Sold INR
409.66 crs
Yesterday’s bounce was first hinted with positive divergence
on MACD daily chart. I have quoted too. Hence we bought Nifty Future almost
near day’s low to see a good gain afterward. Best part is that Nifty has closed
above psychological 8500 levels.
Global market may not have similar moves as we saw in Indian
market. Take a caution at higher levels. Indian market may not have secular
trend denying all global concerns. There is just one logic that Indian market is
moving higher on easing oil price.
For today’s trading session, I am expecting a flat opening
with trading support to emerge in the zone of 8480-8500 zones. I believe that
Nifty can move higher towards 8600 if we get some improved global indices. I still
suggest caution at higher levels. I have long from yesterday with good gain.
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Strategy for Nifty July future – We had short from 8475 which we
booked @ 8400, gaining 75 points. Then, we have added long @ 8410 to see a
close at 8530+ levels. We got almost 200 points in just two trading sessions. Technically,
I have reasons to expect further momentum. One can expect support in the range
of 8500 to 8480 but I am advising caution from buying higher levels.
S&P 500 (USA) – A mild bounce came from 2058
levels. This is fine so far that world do not want to react much on Greece. I still
believe that Greece exit is good for everyone but it may trigger a panic mode
if terms and conditions go unfavourable for Euro zone. I cannot deny a
catastrophic effect in coming few months. 2050-2045 will be support for
S&P. sooner or later it will again see a sell off after a recovery. I bought
Indian indices but not US indices.
