You must read previous articles and watch the given chart
carefully to understand this article completely.
For 31 July 2015: -
On 30 July 2015, FII Sold INR – 170.68 crs and DII Bought INR
499.65 crs
Past few trading sessions were showing that expiry may go on
dull note and it goes in same way. Based on pattern analysis of wave chart, we
may have a halt of three choppy sessions in a row. This makes sense as today’s
market may also be soft if it remains up. Immediate technical hurdle can be at
8477-8480 levels.
Somehow it has saved 8300 levels before expiry and then a
bounce. Take a note that most part of July month was on higher side only and at
one time it was giving all hints for 8800 too. Afterward we saw selling from
FII. If 300 points dip were the trend then this rise is just a small recovery
and selling may hit again after completion of this rise.
For today’s trading session, I am expecting a silent to up
opening. I am yet to take a decisive call on index for trade. Honestly, I missed
the dip for shorting. Some has asked me the fresh conclusion based on reverse
H&S. Well, failure of such pattern makes chart brutal. It can retest low
point of RS or even head in worse case. For today, technical is at 8470-8480.
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Strategy for Nifty August
future – Nifty may go
on dull trade if it remains positive. I expect this to be positive for first
hour of trade at least. One can say that if it breaks below 8430 then only we
can expect some technical hunt for trade. Till then, it may be avoid kind of
market. On higher side Nifty August future will face resistance at 8500-8510
levels.
S&P 500 (USA) – A dead makes no change in analysis.
It became a big headache to analyse S&P near 2110. Throughout 2015 so far
we are just writing here and there near 2110. It is just a boring index. On one
hand technical indicators are saying for some move up move and then suddenly
one faces few choppy sessions. This makes things ugly to trade. I still believe
few more points upside before a fresh fall. Well, honestly I do not know the magnitude
of up move.
