INDIAN MARKETS ARE SINGING BREATHLESS SONGS AND BECOMES SUPER FAST MAIL.IT IS THE CHARACTER OF BULL MARKETS THAT IT DOES NOT GIVE BUYING OPPORTUNITY AND MOVES UP.AFTER 5 MONTHS RANGE IT WAS CONFIRM THAT UPMOVE WILL BE STRONG AND CORRECTIONS WILL BE SMALL.AFTER ONE DAY SELLING INDIAN MARKETS MOVED UP FROM LITTLE ABOVE FIRST RETRACEMENT LEVELS OF 23.6% AND THIS FACT MUST BE KEPT IN MIND THAT IT IS FIRST WAVE OF FRESH UP MOVE.IT CAN NOT BE GUARANTEED AT THIS MOMENT THAT:-
1- IT IS PULL BACK RALLY OR
2- CORRECTION OF 2008 CRASH OR
3- BEGINING OF FRESH UPTREND AFTER COMPLETING 5 WAVES CORRECTION OF BULL RALLY OF SEPT 2001-JAN-2008.
COMING MONTHS WILL TELL THAT IN WHICH PART OUR RALLY IS MOVING BUT IT IS CONFIRM THAT MOVE IS STRONG;-
1- SHORTING POSITIONS ARE RISKY AND THOSE WHO ARE FAST IN UNDERSTANDING MARKET AND TAKE DECISIONS DECISIONS SHOULD ONLY TAKE SHORTING DECISIONS FOR VERY SHORT TERM AND SMALL TARGETS.
2- HOLD INVESTMENTS AND SELL AFTER CONFIRMATION OF TERMINATION OF THIS RALLY.AS I ALWAYS TELL WELL IN ADVANCE ABOUT THE TERMINATION OF BULL RALLY THEREFORE MAY SELL AFTER CONFIRMATION FROM ME.
3- SHORT TERM AND INTRADAY TRADERS SHOULD WAIT FOR INTRADAY CORRECTION OR VERY SHORT TERM CORRECTION FOR BUYING TODAY BECAUSE SENTIMENT IS HEATED TODAY MORNING.
FIRST CONFIRMATION OF BULL MARKET WILL COME WHEN INDIAN MARKETS WILL SUSTAIN ABOVE 200 DMA(TODAY AT 3443) OR WILL CROSS BY FORCE AS IT CROSSED 100 DMA.
INIDAN MARKETS WILL OPEN IN GREEN AND WILL ALSO CLOSE IN GREEN IF PROFIT BOOKING DOES NOT COMES TODAY.
(LALIT KUMAR DHINGRA)
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