You must read previous articles and watch the given chart carefully to
understand this article completely.
For 17 November 2015: -
On 16 November 2015: FII Net Sold – INR 1051.26: DII Net Bought – INR – 661.71
I have already said for this recovery yesterday itself. We took a long on
index option as we bought 7800 call on safer note. Our long came at 60-62.
Well, on Nifty spot I am expecting levels of 7850-7900 as minimum target for
this recovery. Why this long trade signal came from low? Simple answer is that
if H&S makes multiple shoulders from n-lime then almost same number of
pullback used to come. Current pullback came with same behaviour which can die
on n-line again which is at 7940.
For today’s trading session, I am expecting market to open on positive
note and it may remain bullish as long as it can stay above 7825-7800 levels. I
will remain on buy side on my anticipated long trade target above 7900 on
nifty.
Please visit our ‘intraday updates’ to get further updates or to take
good advantage join paid services.
Strategy for Nifty November future – From a level
of 7750, a buy signal came for mini bounce we are living in that mini bounce
zone. Can this bounce convert to a big bounce? Yes, it can. I am expecting
7900+ levels. I do not suggest making short attempt for the day although today
is litmus test day. If follow comes for bulls then market should close on day’s
high again.
S&P 500 (USA) – I have
already said that we have a chance to see a recovery from lower levels and here
it comes in its own fashion. US Futures were down yesterday which we were on
trade but it has closed on handsome note. Technical charts are justifying for a
move towards 2060 and then even 2075 are also possible. So call is to hold your long unless a fresh
sell signal emerges. Remember its already from much lower levels.
