IGL - FALL OF 40% AND DATA IS SAYING FOR SOMETHING WRONG

Gas board orders cuts in rates, charges for CNG & PNG to Delhi consumers; firm may challenge directive

The price of compressed natural gas (CNG) in the capital could come down by 20 per cent and of piped natural gas (PNG) by 10 per cent in the wake of an order on Monday by the Petroleum and Natural Gas Regulatory Board (PNGRB).

Indraprastha Gas Ltd (IGL), the monopoly supplier of both gases in the capital, may have to take a hit of around Rs 1,000 crore. The order has sharply reduced, with restrospective effect, network rates and compression charges. IGL, it is learnt, is looking to challenge it.

read details at http://www.business-standard.com/india/news/igl-gets-rs-1000-cr-hitregulator/470726/

WATCH YESTERDAY VOLUME PATTERN -

FUTURE CONTRACT TRADED - 910 LOTS

CASH VOLUME - 684847

Are those number matching??? Very clearly there were more selling in cash segment and there MUST be someone who was knowing. I am not claiming that I am knowing all the story behind that but atleast data is saying that.

Cannot you smell insider trading ................. (??????????)

10 APRIL'12 - NIFTY CRUCIAL LEVELS- 5229 & 5193

NIFTY AS OF CLOSE 09 APRIL : -

Let us focus on wave ' B', it has started from 5136 and end up at 5379, total length = 243 points.

Now important supports will be like this -

 61.80% of wave 'B' will be 0.618 of 243 = 150 => 5379 - 150 = 5229

Yesterday Nifty has seen a low at 5228.

Next is

76.40% of wave "B" will be 0.764 of 243 = 186 =. 5379 - 186 = 5193

So trade below 5228 will give you fall up to 5193 and then free fall for panic selling.

Fresh short can be excuted only below 5228 as this point may result some mild recovery. Who knows if mild recovery can convert to reversal. well, no sign as of now but I am adding all possibilities.

Regards,

Praveen Kumar

http://www.viecapital.com/