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watch the given chart carefully to understand this article completely.
For 19 August 2015: -
On 18 August 2015, FII Sold INR – 255.42
crs and DII Bought INR 127.50 crs
I have concluded 8530 to 8550 as
resistance. Here it comes. Nifty slipped after hitting a high at 8525. It has
seen a low around 8430 levels before closing at 8466. Take a note that this is
a close below 8480 levels. Current set up is favouring bears right now.
My conclusion for resistance remains
same. Resistance is in the zone of 8530-8550 but I do not see any decisive
direction in market now. It can swing up and down for few move times by this
week itself. Some key momentum indicators like MACD is showing negative
divergence which is giving a favour for bears.
For today’s trading session, I can
again say that if it sustain below 8480 then we can expect another round of
selling towards 8400 levels. I can equally say that based on wave count even
8500 levels are looking higher than expected. Favourable wave count is
suggesting that stabilization zone for Nifty should be around 8300.
Well, Mr. Prime Minister, have look
on equation of INR vs USD. Do controls before things go out of hand? The blind
assurance cannot help for longer run. As per economy is concern, I fail to see
any great chance with a change in power at centre. Situation is really
alarming. Even a small rise in crude oil price will result rupee hitting 70.
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Strategy for Nifty August future – Trading around 8500 is just not
making any great signal to trade. Up or down it can choppy from here only.
Technical resistance will emerge in the zone of 8540-8560 zone. Down side
support is at 8470. If it can break and sustain then we can expect a dip
towards 8400 sooner. Up or down, nothing is impossible. For safer moves, just
wait outside the market.
S&P 500 (USA) – I can say that this is expected small dip. It is
certainly not a trading opportunity. Near to 2100 it may trade on dull note but
as long as it is below 2110 it is favouring bears. I am expecting another fall
towards 2075 to 2070 but this time it may take some time unless some news based
fall comes. So over all, it can see higher possibility of fall. Most global
indices are like this only.
