You must read previous articles and watch the given chart carefully to
understand this article completely.
Analysis for 12 July 2017: -
On 11 July 2017: FII Net Bought – 182.05 INR Crs: DII Net Bought – INR – 335.75 Crs
High goes at 9830 and that was impressive but closing was different. Markets
will definitely going to take another attempt for rise but right now we may
expect a pause. A pause is unwanted but it remains the feature of the rise from
9000 onwards.
Take a note and keep in mind, longer it stays above 9700 higher will
be possibility of 10000 marks to be tested. All this may happen in the month of
July only. Strategy should be to buy in dip.
For today’s session, I am expecting market to open on stable note with
another possibility of testing 9830 levels. Will it surpass 9830? This is
beyond the scope of technical now. One should not worry about this. It will
happen sooner or later.
One thing is clear that you may not get any easy shorting this market.
Market dynamics is denying any big price correction and this is not happening
for the first time. Correction will come and definitely come but not right now.
My expectation is that we are far away from any meaningful (10%) correction.
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
– SGX Nifty is giving opening to be around 9800+ levels. We can expect higher
levels but if it fails at 9800 then it will be choppy. Avoid trading in that
case. So, trade only if market shows strength. If it goes below 9800 then it
should be better to take holiday.
BANK NIFTY June future – I
still stuck with my figure of 23800 levels and hence my study remains same. I
am still expecting 23800 and not only that we can expect even 24000 levels. Be
the buyer of this kind of rise. It has yet to see a firm buyer to hit this
index. In any down side it will have good technical support at 23400 levels.
Just imagine if Bank Nifty start over performing then what kind of levels is
possible.
