Incisive Nifty Trend Analysis

prada

Well-Known Member
Reggie, there are a few gaps in the charts that needs to be filled. The most prominent one is 5447-5526. Market will target this one. This news comes as an excuse for the market to correct.

The Govt. may well survive, but am afraid we have to draw a trendline to find where there is downward support. In my view Thu. will be gap down open and a negative close (Hope I am wrong on this)

If the political issue is not resolved, momentum will reverse. The saving grace could be that large players who have invested 60 thousand crores this year and may not want to do anything drastic in a hurry. Also the fact that expiry is near.

As of writing ICICI ADR is -2.70% and Infosys ADR is -1.10% on NYSE. So it is important to watch Singapore Nifty close tomorrow to get a clue as to what is going to happen on Thu.
 

Bewinner

Well-Known Member
I don't know why but I am also have the same thought like SEVEN STAR that
This Gvt will survive by hook or crook there are Many other smaller Patrice to take advantage of the situation and to support the Gvt. on the bargain for some key ministerial post...
. As this govt is the most sucker than all other govt as the scam they did no other govt did in past.
But mkt may take it as an excuse a little bit from here as Mr. Prada said. But reversal of momentum is still far away I think.

So, Interesting days ahead.
 

Reggie

Well-Known Member
Prada, That's steep gap. We have to see over what time period it plays out....

Reggie, there are a few gaps in the charts that needs to be filled. The most prominent one is 5447-5526. Market will target this one. This news comes as an excuse for the market to correct.
 

SexyTrader

Well-Known Member
Let the PUTS rule the end of this week :thumb: :rofl:

This Thursday & Friday look to be "game-zone" days :clapping:
 
There could be some other game changer by Thursday (tomorrow). Bank of Japan has announced some stimulus package and that has driven the Asian markets up and the European futures green.

As such, the UPA govt. has the numbers already on its side, but even if it didn't, Congress has a history of floor management in the Parliament. During 1994-96, the Congress government led by Narsimha Rao survived for nearly three years despite not having the required numbers. They know how to win an election, and will do so even if the "M"s don't co-operate.

As for the "reforms", I am highly sceptical. The reasons given by the government are all wrong. "We need the money to help with the fiscal deficit" !!! They are making us look like beggars. If they control corruption, we will be a budget surplus economy.

I think that the so-called reforms will only open the floodgates for more corruption.
 

Reggie

Well-Known Member
BPR,

TCS down move is a part of index management excercise. Some heavyweights need to come down when other index heavyweights are moving up. Besides, its also part of profit booking. The stocks had run up too high.


Reggie look at this chart tcs fut Daily chart
took a stair and then no lift it is rather suicide dive this is no ina mina stock but the best stock in IT space currently and now u know why prada is so hopeful.

 

Bewinner

Well-Known Member
LPG cylinders with subsidy: number raised in congress ruled states.
Just due to this new SGX nifty recovered almost 25-30 pts.
Interesting days ahead....
 

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