-You must read previous articles and watch the given chart
carefully to understand this article completely.
For 04 August 2015: -
On 03 August 2015, FII Bought INR – 350.41 crs and DII Sold
INR 33.36 crs
We saw a choppy session near 8600 resistance mark. So far
this choppy session does not go in favour of anyone. Banking stocks are in lime
light just before RBI policy. Well, there is no need to be contrarian trader. Let
us assume that market will get desired rate cut. It may be by 25 basis points. Then
also, it may face decisive hurdle at higher levels.
If we look up certain rate sensitive stocks, we can observe
that those are rising since Nifty saved the support of 8300 levels. This rise
is henceforth a weak rise as participation came from weaker stocks. Have a look
up on all banking stocks. We saw more than 10% bounce from their recent low. It
does not make so much great impact on Nifty yet.
For today’s trading session, I am expecting a silent to up
opening with resistance at 8600 levels. In the down side we may have meaningful
support only at 8480-8450 levels. Hence trading risk is higher at current
levels. Do wait till the outcome of RBI monetary policy review. I am expecting
a pop-up top today.
Please visit our ‘intraday updates’ to get further updates or
to take good advantage join paid services.
Strategy for Nifty August
future – Nifty future
should take a dull to negative start. On higher side 8610+ levels are resistance.
I am expecting resistance to emerge at higher levels. Depending on the policy
announcement we may see some higher levels that’s also if it comes in favour. Possibility
is to hit 8610-8640 then a dip.
S&P 500 (USA) – Just as past many months, it has
moved above 2110 for small time to challenge 2135 but lost the steam. Now again
breaking 2095 to create a moderate sell signal. If it closes below 2095 then it
has bright chance of hitting the support of 2070 once again. It is still difficult
to say if it can break 2045-2040 support levels. I still believe that S&P
has great chance of breaking 2000 marks anytime.
