You must read previous articles and watch the given chart
carefully to understand this article completely.
For 13 May 2014: -
On 12 May 2014, FII Bought INR 1217.95 crs and DII Bought INR
92.56 crs
It was excellent Monday when Nifty closed above 7000 marks. It
took almost 6.50 years to move from 6000 first time to 7000 first time. Nifty
has crossed 6000 marks for the first time in December 2007. Now, after market
hours, exit poll result came per expectation. Almost everyone is showing a
clear majority for NDA.
I have quoted 254 for BJP on Friday and I have explained in
my weekend article with complete details. If I am right then NDA will surely
come with comfortable majority. If I have to update my projected numbers then
it will go in favour of NDA to large extent. Believe me BJP number will be
higher than 254. I will not surprise if it came near to 272. This is perhaps my
sentiment. So, mathematical study is still justifying for 254.
I have long from 6685 which I am not ready to give up. We will
see another mammoth gap up today. We may have some profit taking but I have no
reservations from taking risk for 16th May 2014. We saw diesel price
hike after poll ended. So, good news for market is just beginning.
What can you expect for 16th May 2016? Well, history
has yet to make. When I projected 254 seats for BJP, I have not given any
account for NaMo wave. If this wave is really there then number for NDA can be
far bigger than 300. Well, we cannot count emotions on Mathematics formula or
survey.
Final quote is, if NDA goes in the zone of 300-320+ (which is
not impossible), then you can expect fastest 1000 points travel for Nifty. Yes,
we may need to bet for even 7800-8000. This rally will at least continue till
25 May 2014. Now, this is not the time to be contrarian trader who can bet for
bears. One will simply bleed if one does.
How does wave looks like? This is fifth wave extension. This generally
comes with extremely rapid pace. Have a look, if we compare this to third wave.
100% @ 7325, 127.20% @ 7569, 161.80% 7878
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Strategy for Nifty May future – We are going to see another
higher opening. There is no better buy signal than this kind of back to back
extremely higher high at new all-time high. Just count how many high I typed. I
am expecting another stronger start. It can be as bigger as 100 points. Technical
charts are just saying buy and hold. I am just holding my one stop long at 6685
and not doing any further experiment.
S&P 500 (USA) – I still protect myself using 50 DMA
support. When it was looking like to break, bulls came and bring it very close
to all-time high. So, a new all-time high is still not out of race. Today will
be a day when it can make its history. I
have quoted for this rise from the bounce of 1803. Now what is coming next? Let
it go higher and top will emerge at 1915 to 1930 levels before ‘May or summer sell
off begin’. I am expecting this to happen sooner, may be this week itself.
