You must read previous articles and watch the given chart carefully to
understand this article completely.
Analysis 05 February 2018: -
On 02 February 2018: FII Net Bought – 950.00 INR Crs: DII Net Sold – INR – 508.78 Crs
Well, it seems that Union Budget 2018 caused a hit in Indian market
and it results a top. I have already quoted for support at 10800 and Nifty has
closed below those marks. Technical goes in favour of fall. I am expecting a
target around its previous all-time high. In this process it can try to hit the
levels of 10450-10400. So, we can still expect fall of 300-400 points. It was
strongly advisable from past two months that one should not invest money in
market. Here comes pain as Dow Jones has also lost on significant way.
For today’s trading session, one can expect market to open on big gap
down mode. This may not allow fresh bears to enter in to the market. Those who
added short on last week are going to get lots of joy. In have a view that if
bounce comes then one can prefer to add short. Levels cannot be specified.
This is a post budget fall and market was running without correction
from past many weeks. This due correction makes market more dangerous and
inviting temptation. If election comes earlier than expected then stock market
will read it negative.
Strategy for Nifty February
future – I have advised short on past week trades from budget day to even
on Friday. My first target was 10800 which have broken. My next target is
around 10450-10400 levels. Let us see if this can hit those levels. For today
prefer to short on intraday rise. Can it able to recover for gap fill? Well, I have
doubts.
BANK NIFTY February future –
It has exactly slipped over 1000 points in two trading sessions and it is
looking weaker on charts. Technical charts may goes brutally in favour of bears
with some haunted targets. So far, I am looking on the possibility of 26000
levels. Further break could cause fresh 500-600 points of fall.
