I CLEARLY TOLD YESTERDAY FOR BEGINING OF DOWN MOVE AND NIFTY MOVING BELOW 4100. DOWN MOVE STARTED EXACTLY FROM YESTERDAY AS WELL AS NIFTY MOVED BELOW 4100 AND MADE 4092. AS INTRADAY CHARTS STARTED TO GIVE INDICATIONS OF CORRECTION THEREFORE I WAS NON STOP TELLING FOR THE BEGINING OF CORRECTION SINCE 20-05-2009 AND CORRECTION STARTED FROM YESTERDAY. SHORT TERM CORRECTION IS CONFIRM AND IF NIFTY MOVES BELOW 4092 AFTER MAKING LOWER TOP THEN INTERMEDIATE TERM CORRECTION WILL CONFIRM. IT IS WELL KNOWN FACT THAT ON GOING MARCH 2009 RALLY IS US LED RALLY AND US MARKETS CLOSED WITH GOOD GAINS AFTER MUCH STRONGER THAN EXPECTED CONSUMER CONFIDENCE REPORT THEREFORE ASIAN MARKETS ARE RESPODING US RALLY WITH 1% TO 4% UP TRADING TODAY AND INDIAN MARKETS WILL ALSO OPEN STRONG TODAY.
ON THE BACK OF RALLYING GLOBAL MARKETS INDIAN MARKETS WILL OPEN STRONG AND CLOSE IN GREEN TODAY.
(LALIT KUMAR DHINGRA)
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