You must read previous articles and watch the given chart carefully to
understand this article completely.
For 04 November 2015: -
On 03 November 2015: FII Net Sold – INR 449.84: DII Net Bought – INR – 350.31
It has seen a dip yesterday from higher levels but trade is not for short
in this dip. This was one such usual dip which used to come on first profit taking
after a small recovery. I still feel that it has enough potential to hit 8125
levels.
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. These are zigzag
bounce in between the pattern.
For today’s trading session, I am expecting positive opening for today.
It has given a good candle pattern in favour of bulls. Technical support will
remain at 8000-7990 levels. If it can stand tall above 8125 then bounce can
sustain for three days but that may not be easy task. Before 8125 it can definitely
face resistance at 8100 but time and pattern favours bulls.
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 – 8025 will
act as decisive support. On higher side it can test levels of 8100 to 8140 as
of now. Standing well above 8140 will give three days rise and counting will
start from today. Do not short at lower side. Market may close positive to big
positive today also. Above 8140 we can see some rapid move and bounce.
S&P 500 (USA) – It has
moved further as it is spending time above 2100 levels. As long as it is above
2100 it has higher chance of hitting a new all-time high again. Well, I never
favour to trade this zone which is above 2100. We may see some higher levels
but my choice to buy will emerge only above 2135. If not then we can see a
brutal truncation at top again.
