You must read previous articles and
watch the given chart carefully to understand this article completely.
For 21 September 2015: -
On 18 September 2015, FII Bought INR
– 643.51 Crs and DII Bought INR 415.09 Crs
I was just not comfortable with rise
in market. In spite of significant premium loss on Nifty Put option, I prefer
to hold. I got the desired reward in last half of the day. More important is
the subsequent sell off in US market. A word of optimism says that RBI should
cut its rate. Well, I do not expect such when monsoon goes bad to worse.
Based on technical chart I still
feel that we are about to get a most unwanted pattern by bulls in the form of
gap down. Here is condition – if gap down goes below 7940, it may remain
unfilled. Below 7940, it can test 7850 too. If it closes in this way then
expiry may happen at lowest point of the month. The low point of the month is
7540 so far.
For today’s trading session, we may
see gap down. Do not prefer to trade long in dip. It may not be possible to
expect easy recovery. Below 7940 it can hit 7850. Will it happen by just today
only? Yes, it may be.
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Strategy for Nifty September future – Simple way is that below
8000 levels, it can hit levels of 7900. I had anticipated this on Friday
itself. It looks like to happen in gap down. If this happens then we have
reasons to believe for a move towards 7860-7850 also. Do not buy the dip.
S&P 500 (USA) – It hit a high around 2020 on Fed decision day and
now closed below 1960. All just has happened in less than 24 hours. It is showing
the desired and talked weakness by us earlier. Historically, last week of
September is known to be the worse week of the year. Will it be again? It yes
then I have reasons to believe for levels below 1900.
