You must read previous articles and watch the given chart carefully to
understand this article completely.
For 29 December 2015: -
On 28 December 2015: FII Net Sold – INR 302.62: DII Net Bought – INR – 987.82
Index has slowly moved towards 7940 and this is great from recent low. I have
talked about positive divergence on MACD from past many days and this is the
great impact of the same. I am expecting levels of 8000 to be tested by this
week itself.
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 to positive opening. Now market
is building over budget expectations too. If that’s the case then we may see
some sector picking up very soon and those will give good fruit. If Nifty can
stand above 7940 then today will be very impressive day for bulls. I am not
saying that Nifty can get a top at 8000. It can extend more.
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Strategy for Nifty December future – Once it
was above 7870, it gave all hints for 7925 as given yesterday. Even for today
one can expect up move to continue. If case of gap up one must wait for some
intraday dip. Do not be in hurry as Nifty spot going at critical 7940. I will
utilize dip to buy only.
S&P 500 (USA) – I do not
count much about these pullbacks. My study remains same. Technical charts are
still favouring the direction towards 2100 from current levels too. 2045 will
act as key support for the move. I say one can opt buying in dip for this week
too. On higher side I am expecting 2100 levels by this week itself.
