AFTER SMART RECOVERY ON 12-05-2009 GOOD SELLING WAS SEEN ON 13-05-2009 THEREFORE I TOLD IN MY POST MARKET OUTLOOK ON 13-05-2009 THAT:- "ALTHOUGH NIFTY WILL MOVE BELOW 3600 ONCE BUT THAT WILL NOT MEAN THAT DOWN MOVE HAS STARTED."
ALTHOUGH NIFTY TRADED MOST OF THE TIME BELOW 3600 ON 14-05-2009 AND ALSO CLOSED BRLOW 3600 AT 3,593.45 AND EXCEPT THIS INDIAN MARKETS CLOSED IN RED YESTERDAY BUT I AM STILL HAVING SAME VIEW ABOUT WHICH I TOLD ON 13-05-2009 THAT ALL THESE NEGATIVE DEVELOPMENTS DOES NOT MEAN THAT DOWN MOVE HAS STARTED.I WAS EXPECTING CONSOLIDATION AFTER 13-05-2009 FALL AND THAT WAS SEEN ON 14-05-2009 DURING WHOLE DAY RED TRADING MOVEMENTS IN THE RANGE OF 3565-3620.
AS CONDOLIDATION SEEN YESTERDAY THEREFORE UPMOVE IS EXPECTED.INDIAN MARKETS WILL OPEN LITTLE POSITIVE AND SUSTAING ABOVE YESTERDAY RANGE OF 3565-3620 WILL GIVE UP MOVE CONFIRMATION.INDIAN MARKETS ARE EXPECTED TO MAINTAIN UP MOVES AND WILL CLOSE IN GREEN AFTER POSITIVE OPRNING.
(LALIT KUMAR DHINGRA)
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