You must read previous articles and watch the given chart
carefully to understand this article completely.
For 14 July 2015: -
On 13 July 2015, FII Bought INR – 527.98 crs and DII Sold INR
171.55 crs
I have already expressed for a bounce from near to 8300
levels. We saw a low at 8315 and the desired bounce came on very first day of the
week. We took long from almost low point of the day before Greece news hit the
market and we utilized it all.
Litmus test resistance will emerge wither at 8500 or at 8570
levels. For today’s session even if it can able to cross above 8500 then also
we can say momentum is building for good rise.
For today’s trading session, I am expecting a flat to
positive opening. Technical support will emerge at 8450 to 8430 levels. Let us
see if it can settle above 8500. If this happen then we can have good hope the
test of 8570 levels by this week itself without any major profit taking.
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Strategy for Nifty July future – We took two positions on Nifty. One
we bought Nifty July Future @ 8375 and another we bought 8600 call at 31. All
goes with major profit by closing hour. If this goes in my way then I have intention to hold all long. Technical support is at 8450 levels. I will not buy
on rise but I may opt to trade long from dip again for intraday. Just do not
short this kind of market. It will invite you to short but will not fall much.
S&P 500 (USA) – I was expecting 2075 levels but it
moves as big as 2100. Global market goes on cheer note after Greece deal. Technical
charts were saying for some positive development which came later. Problem has
once again avoided. I still stick on my view that euro nation has just pushed
the problem for time being. Well, based on technical chart S&P goes on
resistance zone of 2100-2110. I will not prefer to trade this.
