You must read previous articles and watch the given chart
carefully to understand this article completely.
For 13 July 2015: -
On 09 July 2015, FII Sold INR – 465.27 crs and DII Bought INR
590.49 crs
It has not surprised me at all. We saw two days of choppy
trades. This is definitely a good level to go choppy. As quoted in chart, we
can see a development of reverse H&S pattern. On successful completion we
can expect 400-500 points rally from current levels. It is still a long way to
go.
I just do not want to short this market anymore without any
extreme weakness. I have already said earlier too that 8300 is a good trading
support. There must be some key news flow to drive this market. What I feel is
that we can expect good improvement in monsoon as key trigger.
For today’s trading session, I am expecting a flat to
positive opening. I still feel that Nifty will not break 8300 levels. I will
prefer to trade on long side on any dip. If given H&S pattern comes in to
play then we can expect a good rise. If this rise continues then we can expect
technical levels like 8800-8900 levels. A good confirmation will come above
8550 levels.
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Strategy for Nifty July future – I am little away from trades from
past two trading sessions. Technical charts are suggesting that we should look
for opportunity to go long. Global situation will improve as it is improving
now. Technical support will be at 8320 to 8300 levels. Let us see. This week
may be decisive for bulls.
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.
