You must read previous articles and watch the given chart carefully to
understand this article completely.
Analysis for 21 June 2017: -
On 19 June 2017: FII Net Sold – 312.84 INR Crs: DII Net Bought – INR – 477.13 Crs
Well, I am focusing on crucial momentum and making few studies on
volume. I have noticed that money is flowing towards some selected stocks and
broad based rally is exhausted. I may be wrong but I am getting hint that
market may undergo MONSOON SELL off mode. It may be the trend which used to set
up in June. It has not fallen so far for this month and time is turning crucial
to very crucial as the clock is ticking.
101%, now I am not long in the market. I added few shorts as indicated
in my past article and I picked short on Nifty Future at 9680 as quoted
earlier.
From 9000 to 9700 was a good run and if some correction comes then it
should be welcome. It is not going to change the direction but it may be the
time of “meantime price correction” to the limited extent. What can be the
magnitude of price fall? Will it be the time for 10% correction? Take a note
that it may be too early to say but I cannot deny such chances. My shorting put
in best possible risk reward ratio and waited long for this.
For today’s session, I am expecting market to open on negative side.
On higher side 9700 will be the zone of resistance. It deserves an attempt for
short on higher end with disciplined stop loss which should just above 9715
levels. It is same as of my past take. I have already added my shorts above
9680 and I may be flexible towards stop loss. Let us see.
I can say that first sign came from sectoral performance. Under performance
goes critical and hence I believe that some money may be pulled from bluechip
index too. Before you think that I am bearish then let me update – I am firm on
my target of 10000 on Nifty. This will just be the meantime price correction
which is a usual and healthy phenomenon.
Strategy for Nifty June future
– As I have already added short on index so I am biased now. I am just going to
keep this short on positional basis. Let us see what can be the possible value
of fall. If it breaks 9570 then I may be the position to revise stop loss which
put to in the guarantee mode for no loss. So, all I am waiting is to see how
and when will it break 9570.
BANK NIFTY June future – I
have already quoted that this index is not weak and we saw a price of 23700 and
now this may feel the heat any moment. Well, this is still not as concrete as
Nifty. This is my anticipation that Bank Nifty will not cross 23800-23900 marks
very easily anymore. Still, I am not very sure. I may get a better hint today.
