People for the past ten to twenty days might heard that many analysts has said something that market may go upto 6000 – 6300 and more and many people may say many as per their prediction, and traders and investors may be in confuse that whom to rely and and whom not? But in this article we are trying to see the real position of Nifty Future within Diwali and the reasons behind the Nifty for the uptrend and many causes too..
If Nifty Future ends more than 5600 within this contract ends then more chances for Nifty Future to go in uptrend and the same has been closed above 5600 for the September 2012 contract closing. Markets now consolidating and Sensex has closed above 18850 and Nifty closed at 5765 (as on 03/10/2012) due to this better closing there is a chance to touch 5800-5850 very closer and due to some strong break outs and gap up in market it has been taken above to 5700 very easily.
As we heard that MCX Exchange separately has been planned to open on Diwali in Laxmi Puja as a sentimentally works out for many reasons in India, so Market may go uptrend in this Diwali day and also if a small correction happens people not to worry as it does not sustain and only traders need to be very careful than Investors. Many factors within this Diwali might also take a Nifty into a small down side upto 5400 – 5500, the reasons are Entry of FDI in Retail Market, FDI in Insurance, Diesel price hike in twice very recently, Mamta Banerjee Government withdrawal from Congress party, Forming of third party, Coal Scam, Gujarat’s Election and its results, regular Inflation rate releases.
Nifty Future may step up technically.
But positive ways of Nifty’s up trends are FDI in Retail Market, FIIs huge in flow , Rupee hitting some new 5 months high, and not more than that as I concerned. Readers might think that FDI in Retails has been announced in both Negative and Positive way because of only Congress Government. They may play anything as people might listen all till they quit.
Nifty Future may touch 6000 within this Diwali due to many technical and fundamental analysis done by our team and this prediction is only of the author/admin of the blog. People may have their own ideas and research before investing.