MARCH RALLY STARTED ON 06-03-2009 FROM 2539 AND MADE ITS HEIGHTEST ON 06-05-2009 AT 3717 WITHIN 36 TRADING SESSIONS.IN THIS RALLY INDIAN MARKETS GAVE RANGE BOUND SHORT TERM CORRECTIONS 2 TIMES.AT THE TOP OF THIS RALLY INDIAN MARKETS ARE RANGE BOUND FOR THE LAST 4 SESSIONS WITHIN THE RANGE OF 3600-3717 AND PREPARING FOR NEXT MOVE WITHIN THIS RANGE.WHENEVER MATKETS REMAINS RANGE BOUND THEN INTRADAY CHARTS TELLS FIRST OF ALL THE SIDE OF BREAK OUT.INTRADAY CHARTS OF LAST 4 SESSIONS ARE CLEARLY AND CONFIRMLY TELLING THAT LAST 4 DAYS RANGE(3600-3717) WILL BREAK DOWN AND WITH THIS BREAKING DOWN CORRECTION OF MARCH 2009 RALLY WILL BEGIN TO TEST NEXT SUPPORT OF 3352.ANY KIND OF ECONOMIC,POLITICAL,NATIONAL OR INTERNATIONAL GOOD NEWS WILL NOT BE ABLE TO STOP INDIAN MARKETS FROM BREAKING DOWN AND TESTING 3352.VOLTALITY MAY INCREASE OR NIFTY MAY MOVE ABOVE 3700 BUT WILL NOT BE ABLE TO SUSTAIN ABOVE 3700 AND WILL MOVE DOWN FINALLY TO TEST 3352.
INDIAN MARKETS WILL CLOSE IN RED AFTER FLAT TO RED OPENING TODAY.
(LALIT KUMAR DHINGRA)
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