Nifty Election squeeze

Hi friends,

                   Well the event has arived lot of hype build in Expectations are high

BJP led NDA is expected to get majority according to exit polls .

We saw expectation rally already from 6650 to 7200.Lets see the present 

chart structure.

Now tomorrow election results

Nifty moves depend on what kind

of numbers NDA gets this expectation

is build on clear majority to them,Any

surprize or shock can spin the market 

big ,From the chart we can see a nice

squeeze building up for last 2 days 

which suggests market waiting for

a trigger ie election result ,Technically

the move below 7070 would invite

gap filling and nifty can drift down to atleast 7015-7000.We have usually seen market running bothways

as the counting starts like during budget day ,So be safe and trade lite you can always trade heavy on 

any other day enjoy the move and jump in only when you understand the move .

Regards

Rish