You must read previous articles and watch the given chart carefully to
understand this article completely.
For 23 December 2015: -
On 22 December 2015: FII Net Bought – INR 168.73: DII Net Bought – INR – 238.36
Higher levels have failed as Nifty was not able to sustain above 7850
levels. It has closed on logical support of 7780 levels. I do not see big
reason for lower levels to sustain although I have not picked lower levels for
long yet. Mostly, market used to be dull going in to new year trade.
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, we may see a positive opening. Anything above
7800 will invite bulls to come in to play. Once again 7850-7870 is a decisive
resistance. I repeat that only above 7870 we can able to see fresh wave of
rise.
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Strategy for Nifty December future – I am
expecting a positive to gap up opening. Above 7800 we can expect levels of
7840-7850. Can we able to see trades above 7870 now? Let us see. I am keenly
waiting for the desired move. I may opt to buy dip for the day.
S&P 500 (USA) – As
expected, it has sustained above 2030 and then moved forward towards higher
levels. The next key challenge for bulls is at 2045. One can consider 2030 as
key support for trading. As long as it is above 2030 it has room to go up only.
I hope for a move towards 2060 levels. I count it as Santa recovery rather than
Santa rally. Hope to convert this into Santa rally.
