You must read previous articles and watch the given chart carefully to
understand this article completely.
28 March 2017: -
On 27 March 2017: FII Net Bought – 577.88 INR Crs: DII Net Sold – INR – 594.48 Crs
I have nothing great to add and hence I am not very active in these
days. Only technical conclusion is that Nifty has support at 9000-8980 levels
which market is respecting form past few days. I am still expecting the
possibility of range bounce session irrespective of derivative expiry week.
On higher side 9100 may be another tougher resistance. Is it giving
you any kind of feeling that we are on all-time high? I can quote little
important point for market dynamics. One such is fall in cement stocks and
another is forecasting of poor monsoon by skymet weather. Market is already not
responding to new all-time high.
For today’s trading we may see flat to positive opening but more or
less market will stay in range. Do not expect anything more than 40-50 points difference
between high and low. If I am right then market will see fresh selling in some
selected sectors, one must be cement and another can be steel.
Do not be blindly bullish. Every stock may not generate money. I am
convinced to remove this warning part (paragraph given below) form my analysis.
When I issued this it was 9100+ and then it hit a low around 6825. I am not
bearish on my trades from 8400 itself. A true sense is that Indian market may
not fall at least for in coming three months from here.
I am just writing my view and I am least interested in learning or
sharing so please do not make sure request.
Do not misinterpret. I gave a long term trend as down from more than a
year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a
low at 6825 on Budget day this year. It is definitely true that my next target
has done come. Still from 9100 to 6825 was not bad either.
Strategy for Nifty April future
– I have no great point to be active on index right now. Nifty is likely to
open around 9130 which is definitely a good start. One can trade long in first
half and short in second half just the same way as it has moved yesterday. I favour
no trade. I am expecting that Nifty can test a 9160-9180 on higher side which
may be a trading opportunity.
BANK NIFTY April future – Bank
Nifty March future is trading at 21100 levels. If market has to move higher
side then Banking index will move more than what Nifty can move. It has logical
to expect something 21250 on higher side. Technical support will be at 20900
levels. It may not move much beyond given levels.
