You must read previous articles and watch the given chart carefully to
understand this article completely.
Analysis 19 February 2018: -
On 16 February 2018: FII Net Sold – 1065.99 INR Crs: DII Net Bought – INR – 1127.78 Crs
I have already quoted for the intermediate resistance at 10600 and
market slipped from the same levels. Well, apart from all that I am feeling
that market has not responded yet on PNB scams. This may be a sentiment hurting
event sooner or later. Impact has confined to the some selected banking stocks
only but impact will be larger and may raise a question mark on corporate governance
issue.
For today’s trading session, market may open on flat note but that may
be due to improved global cues. Technical resistance is still at 10600 levels. If
it starts showing weakness then we can expect levels of 10350-10300 levels by
earlier this week.
Investment point of view, I have already suggested from December
onwards to avoid pumping fresh money in the market as this rise cannot extend
more. Remember, every rise is not the opportunity to invest or trading. It’s
better to be safer sometime.
Strategy for Nifty February
future – As long as traded sustains below 10500, it cannot show strength. We
have no point to be on long side. If it favours then we will go to see a fall
towards 10350-10300 levels. I may opt more shorting if rise comes. There is a
fair chance of hitting 10000 marks on Nifty in medium term.
BANK NIFTY February future –
A bad mood can spoil anything. Banking index has not yet reflecting the PNB
crisis to its full extent. In my view, market will respond sooner on this news.
This is much more serious than what it looks like. I am seeing a possibility of
24000 in medium term.
