You must read previous articles and watch the given chart carefully to
understand this article completely.
For 10 December 2015: -
On 09 December 2015: FII Net Sold – INR 527.41: DII Net Bought – INR – 874.61
I have already projected for levels near 7530 to come once it has broken
7760 levels. We got levels near 7600 and this may get some respect by bears
too. Take a note that in recent past whenever it broke 7600 it has never
sustained. Looking on that Nifty may try to see a pause here or some pullback
at current levels. I am not expecting any big pullback. One should look on
H&S pattern emerging. Its two H&S pattern back to back, which is
confirming my long term targets of 7000-6500 levels.
For today’s trading session, market may see a flat opening. Afterward, I
do expect some support emerging at lower levels. If it can manage to give some
relief bounce then it can extend for tomorrow too. I avoid any fresh shorting
at current levels.
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Strategy for Nifty December future – I got
good on put options which I may opt to unwind by today only. Technically we can
expect support at 7600-7580 levels. If it saves the downside support then a
bounce is expected.
S&P 500 (USA) – If I do
not buy easily at 2100 then equally I do not short 2030 so easily. Technically,
if it makes few attempts to come near 2030 then also take cautious view. Fresh
short should not be initiated unless it breaks 2030 with good volume. It is a
good idea to book profit on all shorts for once near 2040-2045 levels. Let us
see. We may have some pullback from here.
