You must read previous articles and watch the given chart carefully to
understand this article completely.
For 12 February 2016: -
On 11 February 2015: FII Net Sold – INR 1112.66: DII Net Bought – INR – 1222.12
7000 levels have broken so sooner and so easier. This shows disbelief in
Indian market now. We are unable to see any single good result. If UPA was
paralysed in term of reforms then NDA is also no better. Well, I do not think
that politics can be supportive in anyways.
For today’s trading session, I am expecting market to open with gap up due
to massive sell off yesterday. I see the gap has least chance to sustain on
higher side. I feel that Nifty should not break 6850 levels easily. We are
bound to see a rebound. I may be interested to the dip it goes around 6900.
I am ready to buy a panic bottom. Still my low for the year may not have
done yet. I still believe for 6000. The way it came I may expect 5500 too. Let us
see the recovery which can give a better idea.
Let me clear what weekly charts are saying. A full 1500 points of fall is
possible from 7500 levels. I have no idea if it gives 100% result what it is
showing on theory but the target lies near 6000. Sorry, if words hurts you but
this is what I feel. I do not see Nifty going at 8000 anymore in easier way.
It looks like H&S pattern is taking its effect. Well, if H&S
pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty
is over sold for short term and intraday chart. This says that market may
ignore MACD positive divergence and sooner or later it will hit 7200-7100
levels. After that 6500 will be the figure which people will talk about.
Please visit our ‘intraday updates’ to get further updates or to take
good advantage join paid services.
Strategy for Nifty February future – At least I
was no expecting this to come so sooner. Technically, if Nifty future sustain
below 7000 levels then it can be short again. It may try to make another low
today also. Do not trade long easily. Well but I may opt to trade long if I can
see 6900 levels. It is for sure that a big recovery is coming sooner.
S&P 500 (USA) – It came
at 1809 and then took an intraday rebound. This makes sense. US market has
shown better strength from meaningful support at 1800. Take a note that 1800 is
the support for a massive rebound on wave formation. If it can maintain 1800
then my first target is at 1875 and then next will be at 1945. Expect better
second half for the month.
