PRE-OPEN MARKET OUTLOOK(18-04-2009)

PRE-OPEN MARKET OUTLOOK(18-04-2009)-(PART-1)
NIFTY WILL CROSS 3715 TODAY BUT I TOLD ON 14-05-2009 FOR NIFTY CROSSING 3715 THIS WEEK.AS SOON AS I GOT FIRST INDICATION ON 13-05-2009 THAT STABLE GOVT WILL BE FORMED AFTER ELECTIONS SINCE THEN I AM NON STOP TELLING FOR STABLE GOVT. AND UPMOVES THIS WEEK :-

1- ON 13-05-2009- "NOW LAST RESISTANCE IS NEAR 3700.ALL TRENDS ARE UP AND POLITICAL UNCERTAINITY HAS ALMOST REMOVED. ALTHOUGH ON ECONOMIC FRONT NEGATIVE PERFORMANCE IS SEEN BUT ON MANY FRONTS IMPROVEMENT IS CLEARLY VISIBLE THEREFORE TECHNICALLY AND FUNDAMENTALLY MARKETS ARE READY FOR UP MOVE."

2- AGAIN ON 13-05-2009- "ALTHOUGH NIFTY WILL TAKE SOME TIME TO CROSS 3715 BUT NOW 3715 WILL CLEAR AND ON GOING RALLY WILL REMAIN CONTINUED"

3- ON 14-05-2009- "I AM EXPECTING STABLE GOVT AFTER SOME POLITICAL TUSSLE NEXT WEEK AND IF CONSOLIDATION STARTS TODAY THEN NIFTY WILL CROSS 3715 NEXT WEEK AND INDIAN MARKETS WILL IGNORE WEAK GLOBAL MARKETS CUES."

4- ON 15-05-2009- "AS CONDOLIDATION SEEN YESTERDAY THEREFORE UPMOVE IS EXPECTED"

5- AGAIN ON 15-05-2009- "INDIAN MARKETS ARE EXPECTED TO MAINTAIN UP MOVES AND WILL CLOSE IN GREEN AFTER POSITIVE OPENING."

AS I WAS NON STOP TELLING FOR THE LAST THREE SESSIONS THAT WILL HAPPEN NOW AND INDIAN MARKETS WILL OPEN HUGE GAP UP TODAY. INDIAN MARKETS MOVED UP AFTER 5 MONTHS CONSOLIDATION AND ALSO CROSSED BY FORCE 200 DMA.NOW ALL TRENDS ARE UP AND INDIAN MARKETS ARE COMPLETELY BULLISH NOW AND CORRECTING 2008 CRASH AT THIS MOMENT.LONG CHARTS OF INDIAN MARKETS SHOW THAT INDIAN MARKETS ARE BULLISH AND AFTER COMPLETING 2008 CORRECTION NEW HEIGHTS CAN ALSO BE SEEN IN INDIAN MARKETS.

AS IMPROVEMENTS SIGNS ARE SEEN IN INDIAN ECONOMY AND AFTER STABLE AS WELL AS PROGRESSIVE UNION GOVERNMENT IT IS VERY MUCH POSSIBLE THAT INDIAN STOCK MARKETS MAY SEE NEW HIGHS DURING THE TENURE OF NEXT PARLIAMENT.


ON GOING RALLY STARTED ON 09-03-2009 FROM 2539 AND RUN 1178 POINTS WITH ONLY SHORT TERM CORRECTIONS.IT IS 1ST WAVE AND HEIGHT OF THIS WAVE WILL DECIDE NEIGHTS OF NEXT 2 IMPULSIVE WAVES.I WOULD LIKE TO ADD HERE 2ND IMPULSIVE WAVE(3RD WAVE) CAN NOT BE SHORTER THAN 1ST WAVE.I CLEARLY MEAN TO SAY THAT 1ST WAVE HAS RUN 1179 POINTS UPTO 3717(1ST WAVE HIGHTEST) AND AFTER THIS UNTIL INTERMEDIATE TERM CORRECTION DOES NOT STARTS TILL THEN 1ST WAVE WILL BE COUNTED AND TOP BEFORE INTERMEDIATE TERM CORRECTION WILL DECIDE THE LENGTH OF 1ST WAVE.AS I HAVE ALREADY TOLD THAT 2ND IMPULSIVE WAVE(3RD WAVE) WILL NOT BE SHORTER THAN 1ST WAVE.AFTER WATCHING FORCE OF 1ST WAVE IT IS SEEMS THAT 2ND IMPULSIVE WAVE(3RD WAVE) WILL TEST ALL TIME HIGHEST AND 3RD IMPULSIVE WAVE(5TH WAVE) WILL GIVE GLORIOUS HEIGHTS TO INDIAN MARKETS.

INDIAN MARKETS WERE TRADING IN RISING CHANNEL SINCE 09-03-2009 AND NEW BULLISH PHASE WILL START AFTER HUGE GAP UP OPEN TODAY AND 76.4% CORRECTION LEVEL OF LAST CORRECTIVE WAVE WILL BE TESTED NOW AND EXCEPT THIS 50% CORRECTION LEVEL OF 2008 CRASH WILL ALSO BE TESTED IN THE COMING SESSIONS.BOTH THESE LEVELS ARE BETWEEN 4000 AND 4300

INDIAN MARKETS WILL OPEN AND CLOSE WITH HUGE GAINS TODAY AND TODAY BULLISH MOVE WILL GIVE BIRTH TO NEW BULLISH PKASE IN INDIAN MARKETS.

(LALIT KUMAR DHINGRA)