You must read previous articles and
watch the given chart carefully to understand this article completely.
For 28 September 2015: -
On 24 September 2015, FII Sold INR –
115.10 Crs and DII Bought INR 50.67 Crs
Expiry goes on better than expected
note. Above 7850 makes the expiry dull on close basis for month to month. I
cannot consider any good outcome from expiry day levels. Nifty will face
resistance near to 7940. If it does not fall then this market will go choppy
for next few weeks. Scope of fall is still alive.
Remember one thing that no one can
deny that Indian market is sustaining below 7940 which is n-like of H&S
pattern. Longer it sustain below 7940 higher will be threat for fall. Today
will be the first day for the beginning for new derivative series. Most of the
time, it used to be bad.
For today’s trading session, we may expect
a soft to positive start but higher levels has least chance to sustain. Nifty
will face resistance at 7900 or 7940. In the down side it may see some panic
sell off again if it breaks 7800 which is very likely within one –two day.
Please visit our ‘intraday updates’
to get further updates or to take good advantage join paid services.
Strategy for Nifty September future – We may expect some initial
rise today. In the process of rising index one can opt shorting for a
substantial dip. Nifty may not find it easier to move above 7940 levels if
opens around 7900 also. No higher levels can be safe.
S&P 500 (USA) – It hit a low of 1908 on Thursday night before
bouncing on Friday. Well, even after bounce it is not looking strong enough to
say a buy. I still consider that US market will face resistance at higher side.
Simple charting is suggesting that US market will face stiff resistance at
1930-1945 levels. Break below 1900 is very likely by this week.
