Finally, exit polls have given some hope of stable government but considering past track record of +/- 10-15% deviation in numbers, risk to financial market has already been built up. BJP with 285+ seats and NDA with +310 seats are good for market but that should not last long as real concerns on economic slowdown will come into play. Will poll numbers behave...
THE NIFTY ACCORDING TO ME MUST REMAIN RANGE-BOUND FOR THE MONTH ,
AND MOMENT IT CLOSE BELOW 10380 ONE MUST BE CAUTIOUS IF HAS A LONG VIEW ON NIFTY ,
AS IT COULD DRAG NIFTY TO LEVELS OF 10200 AS WELL
DECEMBER MONTH WILL BE VOLATILE AS DUE TO GUJARAT AND HIMACHAL PRADESH ELECTION , ELECTION SPECULATION AND THIRD WEEK RESULTS AS WELL !!!!!!!!
- trading in ascending channel since Feb 2016
- currently at lower end of channel
-trading below 50 day EMA
- trading below 200 day EMA
View going forward
- stock is at major trendline support & if the stock holds on to current level then
- the stock may see a bounce towards either 50 day EMA currently around 278 or...