You must read previous articles and
watch the given chart carefully to understand this article completely.
For 15 September 2015: -
On 14 September 2015, FII Bought INR
– 58.75 Crs and DII Bought INR 183.90 Crs
A small inverse H&S has formed
on chart with n-line at 7850 levels. Nifty has closed above this. Now we have
two patterns, both are H&S but have opposite nature. This gives me a sense
for another test of n-line. It may move more higher but all these moves are to
confirm resistance. A resistance is at 7940 and then at 8000 levels. Fall is imminent.
Time is on and clock is ticking for
the possible big dip. This kind of trading pattern used to come once in eight
years. On broader view, Nifty is just making attempt to test to n-line again.
Technically, failure of this will cause a dip towards 6500 levels. Remember, I
am talking about big 1300-1400 points of wash out. Although, I used to trade
long for trading then also, I cannot hide this fact.
For today’s trading session, we may
see soft opening to silent opening. As long as it is above 7850 do not try
shorting. One should wait for clear signal to trade. On higher side 7940 is
something which looks as achievable but I am not participating on this move.
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Strategy for Nifty September future – I have no position as of
now. I am just interested to take a break if this market is choppy and I will
try to plan for my moves just before fed decision. This market can be extremely
volatile anytime. Do not think that fall is over. Well, as long as it is above
7850 I will not short but I am least interested in buying either. It looks like
a trap formation with pattern.
S&P 500 (USA) – It is choppy to down as expected. I do not see any
big reason to try S&P for this week just before US fed decision. How will
it go ahead? I equally have a view for shorting index on the view of post fed
decision. If nervousness has to come then it will favour bears. There is no
point to add long. Based on chart, I can see the possibility of 1835-1800 in
short term.
