AS I TOLD YESTERDAY THAT INDIAN MARKETS ARE COMPLETELY RANGE BOUND AND SAME CHARACTER SHOWED YESTERDAY NIFTY GOT AGAIN SUPPORT AT 3300.ALTHOUGH GOOD SELLING BETWEEN 3400-3500 BUT IT HAS ALSO BEEN NOTICED THAT NIFTY GOT VERY GOOD SUPPORT AT 3300 AND UNTIL NIFTY DOES NOT BREAK 3300 CONVINCINGLY AND SUSTAINS BELOW IT TILL THEN INDIAN MARKETS WILL BE UNDERSTOOD RANGE BOUND.INTRADAY CHARTS OF COMING SESSIONS WILL TELL FIRST ABOUT THE DIRECTION OF BREAK OUT.AS INDIAN MARKETS ARE COMPLETELY WITHIN TRADING ZONE THEREFORE TRADING TARGETS SHOULD BE KEPT WITHIN THE RANGE OF 3300-3500.ALTHOUGH I WAE EXPECTING DOWNWARD BREAK OUT BUT AS SOON AS I FOUND YESTERDAY THAT INDIAN MARKETS ARE GETTING SUPPORT AT LOWER LEVELS THEN I IMMEDIATELY CHANGED MIND AND STRATEGY AND TRADE ACCORDING TO MARKET.IN THIS MANNER I DID NOT WAITED FOR TARGET OF 3251 AND BOOKED 55 POINTS PROFITS IMMEDIATELY
INDIAN MARKETS WILL OPEN POSITIVE AND TRADE WITHIN 3300-3400 FIRST AND MARKET PREPERATION THROUGH INTRADAY CHARTS WILL BE UNDERSTOOD FIRST AND THEN BREAK OUT DIRECTION WILL BE PREDICTED.TRADING TARGETS SHOULD BE WITHIN 3300-3500 FIRST AND TODAY CLOSING WILL ALSO BE DECIDED ACCORDING TO INTRADAY PATTERNS OF TODAY AND AFTER CONFIRMATION WILL BE POSTED IN MID-SESSION OUTLOOKS.
(LALIT KUMAR DHINGRA)
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