Gradually picture of Indian stock market becomes worsen for short term investors. May be Indian Stock
market is following global market. Let’s study the probability.
1 FII Increases their selling amount. (Current data not indicated on chart but their net trading value is -160.61 crore on 01-07-2010.
2. Huge change in 5300 strike Call Option. Traders increase their call writing.
3. Decrease in volume.
4 Nifty Future of July series has broken down the range 5377 and 5273
Nifty Spot Daily Chart
If Nifty spot is unable to hold itself above 5214 then Nifty spot may test 5126 this week.
Therefore those have taken long position; they should close their long position if Nifty closes below 5214 or 5210.
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