You must
read previous articles and watch above chart carefully to understand this
article completely.
Fall that
begun from second half of 29 May has seen a low at 4884 yesterday and closed
near 4925 on expiry day. I have already mentioned yesterday that as long as
4877 saves one should not prefer to trade short. (GDP data is surely become the
most concerning factors and will make impact but it was not the perfect day
yesterday).
I follow
technical charts and that is still suggesting me that I should retain my view.
As long as 4877 hold we should not prefer to short near and before that.
If it
breaks 4877 then you can expect a dip towards 4843 then 4789 also. Even after
looking on SGX NIFTY right now, which is down by 40 points, I will not prefer
to short immediately.
I am
repeating my yesterday’s given levels once again.
Take a
recovery wave i.e. a-b-c. From 4789 to 5020 (Note that we have successfully
forecasted those on time or before time). Taking retrenchment few important
levels are as follow-
- 4932 – Very obviously, it will
not be visible in opening minutes.
- 4904 – Gap down will give you
opening near to those. (Consider 3-4 points of approximation)
- 4877 – It will be the result on
the failure of 4904 on decisive break.
- 4843 – If panic hit the market then you can expect fall up to 4843. Do not forget that we are on expiry day so nothing is impossible.
I have
already said for the correction to continue for 3 days or maximum of 5 days. We
have completed 3 days. Recovery should begin now. When I am talking about
recovery then I am hoping for a positive close. Let us see.
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. Intraday
posts are available on www.viecapital.com
only.
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Thanks
& Regards,
Praveen
Kumar
Mail id –
Praveen@viecapital.com
Mobile
number – 09893369889
