Friday, May 16, 2014

Nifty celebrates the event with a huge gain followed by an equally huge profit booking..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Prices have gone through the "Roof"; Allow me some time to update the charts.

Nifty Pre-Market View.

Strong money just had the exit polls, not the actual results.
No one knows how the result would be.
Based on the sentiments, the general results are being anticipated but the actual numbers have the tendency to impact the market in two ways:
A relief that Modi managed it...with a rise and part booking..gently.(Not so spectacular)
An euphoria that Modi magic unfolds...with an upper freeze.(Spectacular)
And this is reflected in two EW scenarios shown.(third scenario not considered yet)
By the time market opens, some clues would be there.
If prices complete the (v)th wave(red), I have tentatively given 150+ but it could be any number..
If prices have completed (ii)nd in green, the rise should be more than 533 points..
If unexpected happens, keep either 7078 or 7067 to manage...& reverse..