You must read previous articles and
watch the given chart carefully to understand this article completely.
For 03 September 2015: -
On 02 September 2015, FII Sold INR –
1573.42 Crs and DII Bought INR 880.27 Crs
We are witnessing close below 7800
levels on Nifty. Now, it has just one last hope level which is at 7665. Once it
breaks below 7665 we will see a move towards 7500 levels. Sooner or later it
will come. I must say that on longer term and short term chart this market has
already given breakout on down side with one break below 7725. Confirmation
point came from failure at 8080 levels.
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. Reason for this flat opening is massive rise in US market
otherwise it would have been another big negative close today. Well, after
opening we can see bears resuming their duty. If things go the way I am
thinking then I am ready to see a level near 7500 by today or by tomorrow.
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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) – When there is a certainty of fall then we do not
mind any bounce. Technically, a trade near 1950 may try to generate momentum
for bulls but if they fail then punishment may be bigger from here. I can
repeat, every rise will get sold. My choice to short is the levels near to
1990. Upcoming two trading sessions for this week may turn bad for US market.
