As indicated on Tuesday, 7172.35 is still the top. The Index will be volatile tomorrow being the General Elections 2014 Result day. Let us see the scenarios to get some probable course the Index might take.
Scenario 1: NDA gets a thumping mandate with more than 300 seats.
The Nifty will easily scale 7229 and will attempt 7450 the extended Elliott Wave targets from the 5118 lows.
Scenario 2: NDA gets around 272 - 280 enough to form the Govt.
The Nifty will scale 7229 and might hold at least for the day.
Scenario 3: NDA gets around 220 - 200 and the "Alternative Front" emerges.
This will deflate the ongoing Modi rally and the very mention of "Alternative Front" or "Third Front" with the Bengal 'Tiger' (Mamata) or the Tamil Nadu 'Lady' (Jayalalithaa) being in lead roles, the Index might well hit 10% down circuit. In that case 6500 or 6400 is very much on.
A trading range of nearly 1000 points - 7450 to 6400 for a day. Very exciting and also spine chilling... Welcome "16th May 2014"...
Scenario 1: NDA gets a thumping mandate with more than 300 seats.
The Nifty will easily scale 7229 and will attempt 7450 the extended Elliott Wave targets from the 5118 lows.
Scenario 2: NDA gets around 272 - 280 enough to form the Govt.
The Nifty will scale 7229 and might hold at least for the day.
Scenario 3: NDA gets around 220 - 200 and the "Alternative Front" emerges.
This will deflate the ongoing Modi rally and the very mention of "Alternative Front" or "Third Front" with the Bengal 'Tiger' (Mamata) or the Tamil Nadu 'Lady' (Jayalalithaa) being in lead roles, the Index might well hit 10% down circuit. In that case 6500 or 6400 is very much on.
A trading range of nearly 1000 points - 7450 to 6400 for a day. Very exciting and also spine chilling... Welcome "16th May 2014"...
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