The Market saw increased volatility, with sharp bouts of buying and selling. This was truly a nightmare for online day trading. Yesterday, on TV, in this blog and my lettr to clients I had suggested staying away from trading during 'big news events' like elections. Specilaly when the election cannot be called - there is much uncertainty about the results.
As I write this, NDTV abruptly stopped its poll broadcast, promising to tell all tomorrow. Just a few states were covered. I talk about NDTV because they remain the most respected TV channel for exit polls. (Thier opinions are biased but that is a different issue). Other channels have generally suggested a neck to neck race beween th NDA and the UPA.
Based on the polls, it does appear that a congress govt will not be formed withou the left. A weakened congress will have to yield a lot to get into power. Not a bullish scenario!
I have a post on buying pullbaks, which you can read Here