Vie Capital: 22 May 2012

Tuesday 22 May 2012

USD/INR: A short term study. Wake up call for Government of India. Cross of 55 will prepare for get-set-go for 57

Read this article – As published on 20 May 22, 2012

Link –

http://viecapital.blogspot.in/2012/05/usdinr-short-term-study-wake-up-call.html

When we have published that article, USD = INR 54.43

With in two days,

It shoots up to 55.43.

If I am right we will see INR 57 much sooner than expected. RBI really interested?

May be not or may be it’s out of their hand.

Impact will be worse on equity market too. I have already expressed my fear of re-test of 4790 and it seems to be coming tomorrow only. It will not stop @ 4790 this time. We need to prepare for all new set of lower levels for NIFTY and Sensex.

Due to higher number of queries, I am re-publishing the link. Study remains same.

Do not miss to read,

Thanks & Regards,

Praveen Kumar

NIFTY:22 MAY 2012 : (Intraday updates)High as of now is 4956. This is 50% of 5124.75 to 4788.95. Another retrechment resistance. Repeating- we are in the zone of many retrechment resistances

You must read previous articles and watch above chart carefully to understand this article completely.

I am repeating the same what I said yesterday, that is, “we are in the zone of multiple retrenchment resistances”.
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Updates as of 10:00 am

Today’s high as of now is at 4956. It is nothing but 50% retrenchment from 5124.75 to 4788.95. You can say a mid point too. Market is expected to be affected a lot of USD/INR equation.

I cannot predict exactly about the resistance to work but I can say that there are too many such figures and hence market will feel heavy with every advancing levels.+
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Updates as of 12:20 pm

Yesterday panic low in last few min of trade was at 4894 and today's morning impulsive high was 4956.
50% of 4894 to 4956 = 4925 (Check the day's low, its @ 4925.05).
Applicable range = 23.60% i.e. 4942 to 4925. Nothing much in this zone.
You can expect moves only if it breaks ranges on lower side. So 4924 can be decisive for fewer points of trading moves.
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Updates as of 02:20 pm

Nifty has broken 4924 as mentioned above and slipped towards 4890.
Problems are coming from forex market where INR is slipping below 55 again against USD. (You can read my views on USD/INR is given link -
http://viecapital.blogspot.in/2012/05/usdinr-short-term-study-wake-up-call.html )

We are heading towards some troublesome hours of trades. Ofcourse, for bears these are good levels.
Charts are suggesting that break below 4880 will cause immediate fall of further 30 points. If that happens then we may see closing @ days low.

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For today, intraday updates are over.

Read www.viecapital.com for stocks views

Thanks & Regards,

Praveen Kumar

Mail id – Praveen@viecapital.com

Mobile number – 09893369889

NIFTY: 22 May 2012: Resistance zone – 4930 to 4950. Cross over will also not able to give 5000. We are in multiple resistance zones. Low of 07 - 08 May @ 4983-4988.

You must read previous articles and watch above chart carefully to understand this article completely.

Nifty has yet to cross 4930 to 4950 resistance zone.

It took attempt but failed at 4937 and slipped very sharply in last hour trades. We are going to see gap up today so one can expect opening in the zone of 4930 to 4950 itself.

Even if we see cross above 4950 then also we will see movement towards the double low of 07-08 May 2012 which was in the zone of 4983 to 4988. Then it may switch off recovery without touching 5000.

It is very clear that this rally do not want to sustain at higher levels. (That’s the reason that we are giving up majority of gain in last hour of trades, or you can say that as those are slipping in last hour so it is not ready to sustain).

Where are support – We have support just at 4898. Break below 4898 will result fall towards 4876 and then at 4850. You all know what is going to happen next.

I am still warning. We are not out of threat of retest of 4790.

INR vs USD – INR is slipping below 55. Just imagine if it go to hit 57. I must add that those breakout has occurs. Technical charts are suggesting that by any chance if we break 55.25 then no one can save it.

This is the major concern which is already out of control. All thanks to RBI and Ministry of Finance.

Depending on market condition we will release intraday updates too. Till that time, you can post your views also so that I can present better result for you.

(If you think that other readers should also read this article then recommend this on google by clicking g+ link given below).

Read www.viecapital.com for stocks views

Thanks & Regards,

Praveen Kumar

Mail id – Praveen@viecapital.com

Mobile number – 09893369889