You must read previous articles and watch the given chart
carefully to understand this article completely.
For 09 July 2015: -
On 08 July 2015, FII Sold INR – 354.32 crs and DII Sold INR 346.71
crs
We got downside as expected. It goes very brutal till last
minutes of trade. I can still quote that Indian market seems to be the only
which got least impact again Greece and China trouble. We got a low at 8340
levels which is still good and acceptable. 200 DMA is at 8363 which is just
nearby.
I can still say that Indian market was designed to be saved
by global sell off and it was visible on technical chart. One can observe nice
positive divergence. This is still saying that Indian market has enough
potential for bounce from global cues but a cue has to be positive first.
For today’s trading session, I am expecting a flat opening as
global indices futures are moving higher right now. Take a note that if Nifty
slips below 8340 then we can see fresh dip. A possible target below 8340 cab be
8300-8280 levels. On higher side 8425 is a point which may be possibility for
bounce if comes. I say, trade less.
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Strategy for Nifty July future – I earned small loss on 8200 put
yesterday on long side but I am not worried at all. I want to reserve my
trading activity. I hope for good trading support at 8300 levels. If situation
goes favourable then I may opt to trade long. Let us see if we have a chance to
act on this view.
S&P 500 (USA) – Bounce got sold immediately. I have
quoted for the target of 2045 from past weeks and we finally got it. It does
not matter if reason is Greece or China but technical charts have achieved a
lower target. Now, we may head for choppy days ahead. Remember I have already
said July may be a bad month for equity and it is true so far. We may see some
resilience before fresh fall. Let us see how much bounce can come first.
