Nifty right at trend line

NIFTY
CMP 10349


Poll results are showing positive results for BJP win

Reaction we have got is a 100 point jump in Nifty

So Howz it gonna be going forward...

Let's look at the chart

We observe that with today's jump Nifty is just above the trend line levels

How ever since this is Rumour driven it is difficult to say whether it is a real break out...


Buying started yesterday coinciding from the support levels highlighted in previous update...

Will we see selling coinciding with trend line resistance levels...???

When actual results will be out on Monday We should just keep this in mind that in Market, It's always said... Buy the rumours... sell the news!!!


With today's high as Stop one may look to sell for the day...

Targets will be open

Take care & safe trading...!!!

Trade active:

Markets have reacted positively to Exit Poll Results... But we have not seen follow up buying...and if BJP wins there will no surprise...

So although i would assign a lower probability but There is still a possibility of some gap up on Monday morning.... Knowing this you may consider carrying forward the short position...

Take care & safe trading...!!!

Trade closed: target reached:

We had kept the targets open and charts did not dissappoint us...


Nifty opened with a gap down and went below 10100...

Consider booking profits as per risk apetite...

Hope you guys were able to make the most of it..

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Happy happy trading...!!!