You must read previous articles and
watch the given chart carefully to understand this article completely.
For 02 September 2015: -
On 01 September 2015, FII Sold INR –
675.32 crs and DII Bought INR 681.93 crs
It has closed below 7800 and this is
definitely not a good sign. I am sure that most will agree with this fact.
Logically, it can see a round of panic sell off towards 7650 and then towards
7500. Coming three trading sessions including today will be tough for market.
Out of this three trading sessions, we will see weakness like yesterday for one
more day. What I mean to say is that Nifty has a very bright chance of hitting
7500 levels before any substantial bounce.
One can easily observe the H&S
pattern emerging with two possible n-line, one is at 7940 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 flat opening after a massive sell off yesterday. I strongly repeat that
even after all weakness if this market sustain even below 7800 then we can see
a big round of weakness. One should avoid any attempt of trading long. First
target in my mind is 7650 and then 7500.
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Strategy for Nifty September future – I was definitely expecting
7850-7800 levels. If we get even small follow up of trades in favour of bears
then it can easily wash out towards 7650 levels too. It is supposed to happen
very sooner. I suggest shorting every possible rise. No higher levels can be
safer for bulls.
S&P 500 (USA) – S&P goes down by 3% in just one trading session.
So it has again done the same which should be a primary trend for rest of the
year. If I am claiming for 1475 then this sort of dip gives me good
confirmation. Technically, no bounce can sustain in US market. Short term
resistance is at 2000 levels. Very soon we will hear a term called “Liquidity
crunch”.
