COMMON MEN WILL BE CRUSHED BY THE WEIGHT OF PRICE HIKE AND MARKET UNCERTAIN DUE TO POLITICAL CUES
The NSE Nifty spot closed at 5578 in the weekend up by more than 2% with the higher volatility in the banking and finance sector. Earlier we have indicated some correction or profit booking in the market for previous trading session and we proved wrong. This was happened due to huge buying pressure by the political parties and policy makers. In the evening, policy was introduced, we have some questions for policy makers and introducers. Why new changes in policy were introduced in the evening after the market i.e. official corporate closing time? Why new policy was introduced in the monsoon time, not in the time of the budget? Why another supporting political party has warned the congress about to take the support if not roll back all changes? Why supporting political party has given 72 hours for roll back all changes, why not 24 hours, 36 hours, 4-5-6 days? This warning will end in the evening of Monday evening i.e. after the market closing when retail investors will think about the bullish trend in the market? Political insects are going to make lot lot lot lot lot lot of money by introducing changes in the policy at the perfect time, perfect place, perfect industry, perfect changes to earn. Now, if we move to technical aspects, Nifty spot will face 5633 as hurdle. There are various supports and resistances which will act as major trend for the medium term future. But if again political insects will introduce new changes in the changes of policy, technical levels will be proved wrong. Please be aware of such political strategies and acts.
Happy Trading !!
Megha Investments & Research Team
