You must read previous articles and watch the given chart carefully to
understand this article completely.
Analysis for 03 July 2018: -
On 29 June 2018: FII Net Sold – 157.15 INR Crs: DII Net Bought – INR – 2262.83 Crs
Well, market goes below the crucial support of 10700 levels and hence
shown weakness from expiry day itself. Normally, reverse H&S pattern used
to take time to perform. Suppose if it fails then it shows the degree of
resistance at N-line. On that basis, charts have developed two resistances, one
is at 10700 and other is at 10860 levels.
10680 have already played an important role. It used to give some
shocker fall below that level. Do we have chance to see 10400 levels? If such
question is coming in mind then it may be the possibility.
For today’s trading session, market is expected to on soft note and
afterward market trend will be decided by follow up trades. Chances are higher
for fall. Market is expected to face resistance at 10700 + levels. Technical will
be at 1600 to 10580 levels. Sooner, we may have warning sign too remember,
reverse H&S will be effective only above 10860 levels.
Avoid this rise for any investment as market may be in a possible
situation of big time divergence.
Strategy for Nifty July future
– Nifty July SGX future is trading at 10650 which are showing stability after fall
but the threat is not over yet. As long as it is trading below 10710-10720
levels it can again take a downward turn. If I have preferred to trade then I may
opt shorting at resistance levels. If it closed below 10580 then we may have first
signal for 10400
BANK NIFTY July future – Close
to 26200 levels Bank Nifty future may try to show some strength but this strength
may overcome by weakness on blue-chip index. It looks like it is going to take
support at 26000 and then at 25800 levels. If hope is bank nifty then threat is
also bank nifty.
