2. In shorter time frame Nifty is likely to remain range bound between 2920-3050 and once the stiff resistance at 3050 is overcome; only than we will see an uptrend in the market. Market is likely to consolidate for some time before giving some direction.
3. A lot also depends on the likely formation of the govt at the centre. In case it is a hung parliament govt formation will take some more time and in view of above uncertainty will prevail. However in case Congress comes alone in power than one will see a good momentum in Indian market as policies of Congress are better than BJP for a growing economy like India and none can beat Mr Manmohan Singh. It is credible to him that despite hung parliament he has been able to get the nuclear deal passed with US which is in the interest of the nation.
