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.
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.