Possiblity of a big down move
There is a popular saying "buy the rumor and sell the news" in trading. After PM Modi's speech tonight where he might announce some financial stimulus, there could be a small gap up tomorrow in the market, but I am expecting Nifty to be unable to break 9400 level where there will be heavy selling pressure. If the announcement can not exceed the expectation of the investors, heavy downfall in the market is possible.
I am expecting NIfty to go back down till 8100 level to fill the big gap left while moving up.
I am expecting NIfty to go back down till 8100 level to fill the big gap left while moving up.
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Price moving as expected so far.. As no more good news/announcement to come in near future, high volatility selling can be expected in the next week
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