You must read previous articles and watch the given chart carefully to
understand this article completely.
For 30 December 2015: -
On 29 December 2015: FII Net Bought – INR 8.49: DII Net Bought – INR – 6.44
We saw a dot pause at 7940. It hit a top and turned silent. This is
suggesting the importance of 7940 levels. Once it starts trading above 7940
then it can start moving towards 8000 levels. Based on technical charts I am
hoping for levels above 8000 sooner or later.
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
again key is at 7940-7950 levels. If it can stand above 7940-7950 then we can
see quick addition of 50-60 points on higher side. That should be equivalent to
8000 levels on Nifty. Do not short this market although there may be some such
signal emerges.
S&P 500 (USA) – This is
just expected bounce which I was anticipating from past few trading sessions. Big
question is will S&P revise above 2100. This is something which is beyond
the scope of speculation. So far technical charts are hinting for a move
towards 2100 and then market may go on decisive mode. Somehow I feel that it
can move higher but it is just my hope.
