You must read previous articles and watch the given chart carefully to
understand this article completely.
For 24 December 2015: -
On 23 December 2015: FII Net Bought – INR 385.82: DII Net Bought – INR – 632.64
I am optimistic but market is showing lot of hesitation in crossing above
7870 levels. Suppose if it does not cross then we can expect a dull trading
here and there near 7850 only. We can expect a good trading support at
7825-7800 levels. Short term support will be at 7780 levels.
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 flat opening. I am keeping my
biasing positive for the day. I will prefer to buy index in dip. There are many
stocks which are showing sign of revival from lower consolidation mode. Some stocks
are mentioned in our stock analysis.
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Strategy for Nifty December future – Can we
see easy and sustaining crossover of 7870 levels. So far it is just not turning
easier. If it does so then we can expect levels of 7925-7940. If not then consolidation
will continue. Chance for moving higher side more than the chance of lower
side. Do not short. Technical trading support will emerge at 7830-7810.
S&P 500 (USA) – For US
market, it may be called Santa rally. We saw levels above 2065 too. Current
move has enough momentum to suggest for 2100 levels. Once again note that 2100
has history of being dicey levels for traders. Up as long as it holds 2045 as of now. Hope
for more extension in rise for today also. I hope traders are enjoying long
from lower levels of 2030.
