Nifty at 5350 !!!

Dear All,

On Political front :-

Finance minister P Chidambaram on Friday got a huge relief from the Supreme Court as it dismissed Janata Party president Subramanian Swamy’s plea for a probe into his role in the 2G spectrum scam.

So Now its Coal Scam - to have New Twist and Turn inside and Out side Parliment :-

BJP Continued to disturb Parliament from its normal proceedings and demanding PM's Resignation and says no more discussion in this regard.

Rejecting the report of CAG on allocation of coal blocks during 2004-09 period, Manmohan Singh said that any allegations of impropriety were without basis and unsupported by facts.

BJP rejects PM's defence over coal scam, says money from allocation of blocks went to Congress party

PM should take moral responsibility of coal allocation scam and resign: BJP

So finally it seems Govt may bring confidence motion next week.

>>> NIFTY <<<

> Click the Chart to see in Full Screen << Nifty took support at 5350. Break below should fall upto 5290 as shown on chart. Confusion in Parliament + Nifty trend line break down lead to Bears Strength. Bulls unable to capitalize the Upmove above 5400 and if breaks and close below 5350 or 5290 then its a signal from bear that some thing worst is going to happen soon. Get ready for it.

>> Follow - Up - IDFC <<

On 17th August in our Weekly Review - IDFC was the Weekly Chart - told it may fall 137 & 132. Even though I have Exited IDFC Short cost to cost - due to its long consolidation with out Loss. Please verify the Performance sheet.

But today IDFC fell down and achieved the First Target as per my expectation - and attached chart below

Cheers!!!