You must read previous articles and watch the given chart carefully to
understand this article completely.
For 13 November 2015: -
On 11 November 2015: FII Net Sold – INR 11.93: DII Net Bought – INR – 10.52
Few things one must note that Nifty is trading below n-line of H&S
pattern. We may have multiple shoulder patterns coming but final destination is
a big fall. Well, right now market is nearing to the support of 7750-7760
levels. If it breaks 7750 then we can expect next support around 7690 levels.
For today’s trading session, I am expecting market to open on negative
note again as indicated by SGX Nifty. I have no trade yet on index due to
holidays. Technically we have resistance at 7850 levels. As long as it is below
7850 we may have chance for slipping lower towards support at 7750 levels. We have
concerning fall on Reliance. If Reliance gets support then only one can expect
some revival from lower levels.
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Strategy for Nifty November future – From a
level of 7760 we may not have good chance of shorting unless a fresh sell
signal emerges. Equally, below 7750 it will get a possible sell signal for
further 50 points dip. Can we expect bounce? So far, it is tougher to say. One needs
to wait for intraday development. I must say that days are coming for bigger
trading range again.
S&P 500 (USA) – A sell
signal emerges below 2080 and then hit a target around 2045. All has happened
in just two trading sessions. In my previous updated I have already quoted for
a move around 2000 levels. Well, even 2045 is historically a support. So we are
practically one a make or break levels. If makes then a bounce if not then a
fall to hit 2030 and then 2000. I must say 2000 is coming again, no matter how
many bounce come from low.
