You must read previous articles and
watch the given chart carefully to understand this article completely.
For 07 October 2015: -
FII – Net buy – INR 480.24, DII – Net sell – INR – 424.60
Going near to 100 DMA NIFTY has a
big chance of going choppy. Market may like to wait for earning season moving
forward. Massive rate cut has saved fall in market. A big question to be
answered is how banks have passed on. It is just a nominal one compared to the
kind of rate cut given by RBI. This may help to bank only, no one else.
All says that market wants some
reason to move. Take a note that market is entering to earning season.
Depending on the outcome market may try to decide the direction.
I strongly like to add that market
is entering in festival mode. We used to see choppy moves before Diwali
whenever big trigger is absent. Right now, we are almost in the same situation.
One should trade less for this month.
For today’s trading session, we may
see some silent opening after a real long time. Technical resistance is at 8225
and support stands at 8080 levels. We need a break beyond this point to enter
for trade. I still say trade less for this month due to technical uncertainty
and possible of lesser participation.
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Strategy for Nifty October future – I am avoiding this range
as I see a potentially dull outcome from trade now a day. After a flat opening
resistance may emerge at 8200-8230 zone and support will emerge at 8100. One
can expect many dull days in this range. MACD also justify this possible bull
moves.
S&P 500 (USA) – S&P goes near to 1980 and turning on silent
mode. This gives us a sense that 2020 is a nearest resistance and recovery may
not extend beyond 2020 levels. I feel that market will go on choppy mode now as
it has saved itself from further weakness. Dull days are not suitable to trade.
I suggest avoid index based trade at these levels.
