You must read previous articles and watch the given chart carefully to
understand this article completely.
For 08 December 2015: -
On 04 December 2015: FII Net Sold – INR 1745.73: DII Net Bought – INR – 1069.01
It was way away from 7850 and it never looks to cross. Eventually we got
closing near 7760 levels. Logically, I am expecting a gap down which is reflecting
by SGX Nifty as well. Most important trading support is at 7680 levels. If breaks
then we can expect 7530 levels too which is on my expected target once it
failed to cross above 7850.
For today’s trading session, market may refuse to recover from lower
levels too. It depends on how market reacts at 7680 levels. Does it make sense
for recovery? It may not but optimism may cause pause or small recovery near
7680. I maintain my view for 7530 for this month.
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Strategy for Nifty December future – I picked
some puts for this fall. Logically, 7730-7700 is on expected levels. If it
fails to maintain support at 7700 levels then we can see fall whole this week. Market
is turning nervous near Fed meeting. Pain for Indian market is bigger than any
other part of the world.
S&P 500 (USA) – Once again
it gave up a big part of Friday’s gain by yesterday night itself. A simple
reason is that it was very close to 2100 levels. This is not easily predictable
that 2100 is turning out to be crucial resistance. Based on chart, current fall
should see extension towards 2045 again before remarkable recovery. Most awaited
fed meet may cause some fear.
