6400 or 7400

Tomorrow election results will be declared. exit polls have indicated NDA victory.

History of exit polls is not reliable. clear mandate may take nifty quickly to 7400 or more.

Most probable option in my view:20/30 seats gap from 272 and it will take us higher slowly with clarity of support from other parties. 

Least probable option is very poor tally of NDA with reference to exit polls and that will take us quickly to support of 6400.

Fwd: [PANKAJ SHAH] NIFTY

on crossing 6743 nifty will show upward reversal.

ZEE ENTER

NIFTY

​on crossing 6743 nifty will show upward reversal.​

HIND UNI LEVER AT CRUCIAL SUPPORT

​LOOK AT CHART ATTACHED.

HUL IS CORRECTING FROM 620. IT IS OVERSOLD ALSO.

WILL IT BOUNCE FROM HERE FROM SUPPORT ZONE AROUND 550 ?​

TATA INVESTMENT TREND LINES

ATTACHED CHART OF TATA INVESTMENT...

NIFTY APPROACHING STRONG RESISTANCE ZONE AROUND 6750

look at this chart.

http://prntscr.com/34s4k4

MARKET STATUS

we have retraced from 6142 to today's low of 5871 by 271 points which is 78.6% of last rise from 5798 to 6142 ( 344 points ).this fall has come in apprx 62% time of rise

if we look at 3 legs of fall from 6142 to 5871:
dn 6142 to 5933 : fall of 209 points
up 5933 to 6033 : rise of 100 points - 48% of fall
dn 6033 to 5871 : fall of 162 points - 1.62 times of fall, 78% of first dnmove of 209 points
perfect fibo nos.

as per Vivek Patil's report 0-b line is decisively broken today, sensex low made today is 18826.now second confirmation is faster retracement of rise from 5798 to 6142 is required and i think it may come by breaking 5798 on thursday .

i may be wrong in understanding his analysis.

i do not know neo wave analysis. just trying to understand direction of market movement from his report.

following market by price and volume  is far far better and simpler to understand and to act .

Pankaj Shah 

--
"Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible." 

BULLISH ISLAND REVRSAL

look at bullish island reversal......

5740 to 5730 crucial support area, bullishness till that support zone is intact.further higher bottoms will become stop loss for further moves.

*****************************************************************
bullishness sustained up to 61.8% of last fall and fallen again with gap dn below sup area of 5740/5730 indicating more bearishness indicating breach of prev low of 5683......

SENSEX CHART AS ON 2.05.2013

COMMENTS ON CHART.