Possible Directions to the market after Elections
If we dont consider fundamental news and purely on technicals. (Things have been divided on positive movement and negative movement)
Positive:
Probability 1
If nifty opens below 3695 and goes on to cross 3730 then we can see something 3770 3830. Crossing 3830 is very difficult. this would open a target of 4000 4500 on nifty.
Possibility 2
We open gap up above 3730. Then we may have a rally for 3770 3830 but a drastic fall to 3400 would not be ruled out.
Negative
Possibility 1
We open gap down till 3630 and continue our slide downwards. Breaking of 3529 will give us a target of 3328 and 3000.
Possibility 2
We open gap down below 3598 and continue our slide downwards. breaking of 3529 will give us a target of 3476 3328. But most probably we would recover from 3476 and would give a very strong pullback to 3630 levels.
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