You must read previous articles and
watch the given chart carefully to understand this article completely.
For 28 August 2015: -
On 27 August 2015, FII Sold INR – 3347.35
crs and DII Bought INR 2577.06 crs
It may deserve a relief bounce above
1950 which is likely to come with a gap. Due to a pattern up Gap-up then Gap –
Down, I avoided STBT yesterday and it turn to a good decision. I still stick on
my view that a real big fall is very near.
One can easily observe the H&S
pattern emerging with two possible n-line, one is at 7940 (I tried long on this
but failed) and another is at 7725 (last hope). It will break and it will hit a
technical target around 6500. Is it going to happen tomorrow? No. I am giving a
price analysis and the long term tern has changed. This target can be expected
in next few months. Usually, panic can cause more fall so target may be
extended on lower side.
For today’s trading session, we may
see up opening backed by rise in US market. Technically, a first practical
resistance will emerge at 8080 levels. If fall comes from this level then it
can be again a brutal one but if it takes time then more extension is possible.
Based on wave theory, fall can either come from 8100 or near, if not then from 8225-8280
or from near.
Please visit our ‘intraday updates’
to get further updates or to take good advantage join paid services.
Strategy for Nifty September future – I may open with a gap. This
gap up may not be good for traders. Usually this kind of gap up used to fill. One
can expect a post gap up sell off. Today is first day for new derivative month
so bulls may try to give their best but I strongly suggest to avoid long trades
for forward for this month.
S&P 500 (USA) – A bounce came above 1950 and extended too much. Well,
above 1950, it was expected and it went up. Still, technical view point and
Elliott wave view point remains same due to eight month long consolidation. I strongly
suggested traders to avoid trades. I do not find much reason to extend it more.
It can go maximum towards 2020 levels, means 1 % more.
