1. Not clear about the stand of Central ruling UPA Govt with its allies.
2. Instability in Libya.
If NS starts falling then, the range may be
07/03/2011 Range, High-5533.05, Low-5402, Close- (5413 - 5425)
If NS breaks 5402, then 5382.90,5352.87..
tried to split this range with uncommon fib ratio and values for nifty are as given below.
5515.56
5492.74
5477.53
5462.32
5447.1
5431.89
5416.67
5386.25
5355.82.
Had biased view, so not worked out on upside. May be extremely wrong here. Since it is first of it kind from my side, will give a try.
But Politics nowadays is all about acting and excellent screen play, and the first non technical reason mentioned above for downmove could change overnight and may be tomorrow morning news channels may show UPA allies all standing together waving hands on us, like nothing happened at all.
Below is the 2 day - 2 minute chart. To find the previous days high/low to initiate trade.
