Live Nifty Fut 9-Dec-2013

Greetings from Xpert Nifty

Today after 4 state election result we have seen a huge gap up opening in nifty and in sensex.
Nifty is trading around 6390 which is almost 90 points or 1.37 % higher from previous close,
Bank nifty future also train running around 12,140 which is almost 330 points or 2.80% higher from previous close.

Intraday traders should stay cautious as due to this heavy gap up opening market may consolidate at current level for sometime nifty may remain in the range of 6350 to 6460 for few days and after that we can see a clear break out which lead the trend.
looking at the chart nifty future is in up trend and 6480 will act as a strong resistance anytime close about 6480 may bring a fresh / or attract fresh traders to enter in long position.

Nifty trend has decided on sunday after election results; trend remains up

At the first sound of bells on Monday, equity market is all set to hit all-time highs but sustenance remains a suspect. Analysts say Nifty is barely 2 percent away from the historic high level and BJP’s comfortable win in four states will give adequate push to accomplish that feat.

The dampening factor, however, will come into play sooner than later. The euphoria will be ebbed by other pressing factors, says Advent Advisors’ KR Bharat. The market’s all-time intra-day high stands at 6357.1 attained on January 8, 2008. Its all-time closing high of 6317.35 took place a few sessions back on November 3, 2013.

The BSE benchmark Sensex touched intra-day all-time high of 21293.88 on November 1, 2013. Sounding a word of caution, Punita Kumar Sinha of Pacific Paradigm Advisors said the euphoria may be short-lived because global factors may not compliment the mood. But market mood will remain bouyant in general, she said. Religare Capital Markets is however more optimistic than others. In a statement, Gautam Trivedi, Managing Director & Head of Equities, Religare Capital Markets said: “The election results were better than forecasted by the exit polls.

The equity markets will respond very positively as investors will likely read this as a win for the NDA in June. The fact that the Congress got only 30% of the vote, their worst performance ever – suggests that voters are clearly voting for a change. Inflation, corruption and lack of job creation are the main issues. The question is with six months to go for general election,  what steps will the UPA now take? There is concern that if they resort to large scale spending then the fisc will go out of  whack.