Nifty Future:

Last week on May 5th, I have written clearly that Nifty Future will take support around 6665 and indeed it took support at 6662 and movedup in a frenzied way to 6898.

Henceforth, market movement is going to be based on Exit Poll analysis and official Election result on May 16th, 2014.

Its very difficult to Predict market levels when there is a big event like this starring the market which could bring huge volatility and wild Gyration.  Therefore, I would like to stay away from predicting Market Levels for this week and let us trade what we see on screen.

For the day, the support is around 6877 and resistance at 6970 and only emphatic move of these could open further Targets.

Trade carefully and don’t have over exposures either in long or short positions and its your hard earned money which needs to be protected.

Trade Well and Best Wishes

C T RAMESH RAJA