You must read previous articles and watch the given chart
carefully to understand this article completely.
For 10 July 2015: -
On 09 July 2015, FII Sold INR – 254.10 crs and DII Bought INR
79.08 crs
It gave a worrisome close. Technical charts are suggesting
that close below 8340 is not goes in favour of recovery. Even for today’s
trading session it needs to spend time above 8340 levels to impress for recovery.
Let us see if it can move above 8340 or not although it is in striking
distance.
I do consider 8300-8280 as a make or break levels as it has
close below 8340. Strong condition for recovery is that it needs to stand well
above 8340 first. If not then it will live on the edge of another fall.
For today’s trading session, I am expecting a flat to
positive opening. So far, market is trading on choppy notes as expected earlier.
We should watch banking and capital goods stocks which can recovery after sell
off. I still feel that market may end on choppy note for this week. Trade less
as trading heavy is not easy.
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Strategy for Nifty July future – I am reserve from trading activity
as market trading range is smaller now. If it opens good trading range then
only one can enjoy next deal. 8330 is a trading support but it need to emerge
above 8350-8360 to result for some recovery. I have no great hope from last
trading day of the week. Let us see.
S&P 500 (USA) – I do not see much reason to see
fresh fall as long as it holds 2045 support levels. It is taking support and it
has chance of hitting some higher levels as a recovery. Technical charts are
suggesting that as long as it holds above 2045 it will move towards 2070 levels
once again. I still like to repeat that it will again face resistance at higher
levels. Sooner or later S&P will break 2000 levels. This may happen by July
last week.
