I TOLD ON 06-04-2009 THAT:-
"SOME PROFIT BOOKING IN THE FORM OF SHORT TERM CORRECTION IS DUE. SELLING FORMATIONS ARE ALSO REQUIRED IN INTRADAY AND DAILY CHARTS FOR ANY CORRECTION AFTER SUCH STRONG UP MOVES THEREFORE DOWN MOVE CONCLUSIONS SHOULD BE DRAWN AFTER COMPLETE SELLING PATTERNS IN INTRADAY AND DAILY CHARTS"
AFTER WATCHING WHOLE DAY PROFIT BOOKING AND SELLING PATTERNS IN INTRADAY CHARTS ON 06-04-2009 IT WAS CONFIRM THAT ONE DIP WILL BE SEEN IN THE FORM OF SHORT TERM CORRECTION NOW. AS SELLING SIGNALS WERE ALSO SEEN IN ALMOST ALL THE GLOBAL MARKETS THEREFORE IT WAS UNDERSTOOD THAT ALMOST ALL GLOBAL MARKETS WILL MOVE INTO SHORT TERM CORRECTION PHASE NOW AND ON 08-04-2009 ALMOST ALL GLOBAL AND ASIAN MARKETS WILL BE IN RED. IN REACTION INDIAN MARKETS WILL OPEN GAP DOWN ON 08-04-2009. CORRECTION MAY START IN INDIAN MARKETS TODAY AND 19 DAYS OLD IS EXPECTED TO RETRACE NOW.
MARCH RALLY HAS BEEN STRONG AND AFTER ONE DAY SELLING PATTERNS ONLY A DIP AND VERY SMALL CORRECTION CAN BE PREDICTED AND IF FOLOW UP SELLING DEVELOPS THEN CORRECTION WILL BE DEEPER.LENGTH AND DEPTH OF CORRECTION WILL BE DECIDED AFTER THE ANALYSIS TODAY INTRADAY CHARTS.
INDIAN MARKETS WILL CLOSE IN RED AFTER GAP DOWN OPENING TODAY.
(LALIT KUMAR DHINGRA)
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