You must read previous articles and watch the given chart carefully to
understand this article completely.
For 21 December 2015: -
On 18 December 2015: FII Net Sold – INR 6.99: DII Net Sold – INR – 404.98
I was expecting a profit taking and we got this. I have not picked long
yet. Good part is that Nifty came to the next support around 7725 levels. For today’s
trading session it may trade near to 7725 here and there. Key thing is that if
it can misguide at 7725 then 7700 is also possible and there will be an
opportunity for long trades. I am not going to be easily bearish.
One must look on positive divergence on MACD. It is really a huge one and
can be capable to nullify the effect of H&S pattern which has emerged on
long term chart. If this goes right then we should buy every dip. It’s too
early to conclude hence it is just a view so far.
For today’s trading session, I may opt to buy the fall after gap down as I
have not bought the gap down yet. Technically 7725-7700 will be the range of
good support. For this week market may be mixed but over all direction may be
up from lower levels. It will be good if we see lower levels by today only. I may
opt to buy depending on conditions and strength.
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Strategy for Nifty December future – I am
expecting opening around 7740 levels irrespective of SGX Nifty. We may see some
immediate of panic sell off around 11 am. If I have to be long then I may opt
to buy after 11 am trades. Buy with caution with smaller stop loss.
S&P 500 (USA) – It has
broken 2030 support levels and took a dip towards 2000 levels. It has opened
wide uncertainty in this zone. Below 2000-1990 there may not be scope of
pullback. I may turn a buy if it can save 1990 levels. I repeat buying can be
possible from lower levels only. No higher levels looks safer to say as
threshold for bulls.
