Mr. Rohit Gadia, Founder & CEO, CapitalVia Global Research Ltd., how market will move if GST Bill not passed.
Markets have already suffered by all means due to frequent logjams, and whole monsoon session of parliament got washed off amid all the political mayhem. This has left the market clueless as there is no indicator to the initiatives presented by government to be turning in a practical mode. Nifty Future is trading in broad range of 8330 - 8670 levels. On daily chart, it is looking strong and expected to break the range on the higher side. On the upside, if it manages to break and sustain above its important resistance level of 8670 on closing basis, its next resistance is at 8800 levels and on the down side immediate support level is at 8450 & next important support level to look after is 8330 . But if GST Bill is not cleared in tomorrow's session market can see a further correction by 2-3%