You must
read previous articles and watch above chart carefully to understand this
article completely.
Important
development of charts –
- Nifty has 38.20% resistance @
5209 (from 5630 against the rise from 4531 to 5630). We have seen fall
from those resistance with high @ 5191.
- 5029 – It is 38.20% of rise against 4770 to 5191.
No, QE 3
comes in FOMC meet yesterday but still US market closed on flat note. Well,
this was the last hope that market were betting in last few days. I have
already expressed by view earlier also that I am not expecting any QE 3.
Remember,
in recent few months, all global market is running by politics rather than
economy. I have a view for QE3, if it has to come then it will come near US
president election to get some political mileage. In recent few months, Economy
fundamental is just not justifying stock price. For example, India
For Nifty
my view remains same as follow: -
Nifty
will have resistance at 5134 and 5156. Break below 5098 will generate weakness
for 5080. If we kept on trading below 5080 then we can even visit 5040. Then
the most crucial level will stand at 5029.
If we
break and close below 5029 then only I can say that rising wave is changing the
direction.
In past
few days Nifty kept on trading in just 100 points with one day up and next day
down kind of pattern. Practically these kinds of moves are impossible to trade,
if you are not lucky enough.
Our
intraday update will begin from 9:30 am onwards and this article will be
updated every hours. Do visit again at www.viecapital.com
(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
Follow us
on twitter a/c 'viecapital' to get intraday updates. Link – www.twitter.com/viecapital
Thanks
& Regards,
Praveen
Kumar
Mail id –
Praveen@viecapital.com
Mobile
number – 09893369889
