It is said that charts speaks. Now can we have better event than this (Vote of Confidence)? Today Nifty Futures just broke Falling Wedge on upside at 4050 levels. We are still on border, however we have broken on upside. The next targets are coming at 4185-4220 and then 4320.I am not looking at any other view or news. Just trying to read chart. It is a difficult task but I am making an attempt as a Case Study. If we trade above breakout level of 4050 on Monday and Tuesday too , we can safely assume that UPA IS WINNING the vote of confidence.
I know I am making a big statement . All analysts will start saying this , after result is declared.. I am making a view with my neck out .
The other view:
The other view I am saying now , which u all will say , is contradicting to my earlier view but please read between lines. We are more intersted in markets, and its movement. If we trade above 4050 on Monday and Tuesday ,we are surely going up..Let the result of UPA be any ways. May be we will have some blip on 23 rd and People get trapped in shorts and market start moving up. So I will suggest to be careful in shorting after voting is done.
This is all my guesstimate, and attempt to read chart. The condition here is market stays above 4050 for two days.
The last but not least..My favorite subject-- Astro views.. Lets hope Saturn and Mars are cooling down and helps market.
Disclaimer- This is just an attempt--Pl trade with stop loss in place and make ur own judgement before trading and investing , as this is not a small issue.
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