You must read previous articles and watch the given chart carefully to
understand this article completely.
For 02 November 2015: -
On 30 October 2015: FII Net Sold – INR 1464.89: DII Net Bought – INR – 1560.11
It was said earlier itself that once it settle down below 8180 it has
chance of hitting 8080 levels. It did it. It has added on Friday that below
8080 it may be in preparation mode to hit 50 DMA support. It may test that
support sooner and may be today itself. Hence, we carried our short on Index.
I need to accept that looking on the previous H&S pattern I am
keeping my reservation from this up move although room may left for rise. I
still consider that upcoming few months are very critical for global indices. The
first impact of H&S is coming in line with my expectation.
For today’s trading session, I am expecting negative opening again. I am
expecting levels to go around 8025 levels. A fall towards 8025 may invite panic
too. Technical resistance point is at 8100 levels. Can it revive from low
around 8000? I have no great idea but if it breaks 8000 also then it can be
Black Monday.
As much lot size is increasing in a big way from today one can expect
less participation by retail traders. I am strongly criticizing this sort of
havoc lot size. This is an attempt to keep small traders away from market and
giving leverage to big players. It invites unhealthy activities in market.
Index may not give flavour to trade.
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Strategy for Nifty November future – I say a
short below 8175 and I wend on it. My first expected target is at 8080 levels. I
still hold this short to get a target around 8025 levels. Can I get it today? Answer
may be yes. Technically it can break 8025 levels too. If that happens then next
point can be 8000 or 7960.
S&P 500 (USA) – It is
slipping from the resistance of 2100 levels and now in the verge of testing the
support of 2070-2060 support mark. I have already said that near at 2100 levels
there is no trade. Now it has chance of breaking the support. Stock prices are
moving down after a recovery. There is a bright chance of a fresh strong short
signal sooner on Elliott wave chart. It may be a preparation of 2000 again.
