We can see a small gap down start for the market tomorrow. We might see levels below 6600 spot and even see levels like 6590 or 85.The market will slowly and gradually climb back from these levels.This will certainly hold true if the Nifty Futures goes below 6636 which is the Fii sell off position as was 6697.This can trigger a down ward spiral which can see futures reaching 6605 level and then a retrace which should be used to climb on preferably at the 6614 futures level.This can be the start of the final rally before the election results / exit poll.
The contra thinking is that the some data pertaining to the exit poll is being leaked and the market is being brought down for buying the stocks cheaply.Now is that a rumor or fact....?All it takes is a small help from the overseas chaps, who have to do is push it up a little, and the short covering will do the rest.Now what is fact or fiction we shall know very soon.
Once the rally starts the resistance and a major one would be around 6780 and once that is crossed we could see 6914 and beyond. It helps to remember these spot levels
Intraday Resistance of NIFTY are 6761.4 : 6799.6 : 6838.8 : 6856
Intraday Support of NIFTY are 6669.2 : 6631 : 6592.9 : 6576.1
Trade safe as usual
The contra thinking is that the some data pertaining to the exit poll is being leaked and the market is being brought down for buying the stocks cheaply.Now is that a rumor or fact....?All it takes is a small help from the overseas chaps, who have to do is push it up a little, and the short covering will do the rest.Now what is fact or fiction we shall know very soon.
Once the rally starts the resistance and a major one would be around 6780 and once that is crossed we could see 6914 and beyond. It helps to remember these spot levels
Intraday Resistance of NIFTY are 6761.4 : 6799.6 : 6838.8 : 6856
Intraday Support of NIFTY are 6669.2 : 6631 : 6592.9 : 6576.1
Trade safe as usual