ALL TRENDS ARE UP AND INDIAN MARKETS ARE MOVING UP SLOWLY SLOWLY IN THE RESISTANCE RANGE OF 4500-4620. AFTER SOME PROFIT BOOKING ON 01-06-2009 INDIAN MARKETS CONSOLIDATED ON 02-06-2009 AND CLOSED FLAT AFTER RECOVERING FROM DAY'S LOWS. IT IS BULLISH SIGN AND NIFTY SUSTAING ABOVE LAST 2 DAYS TRADING RANGE 4460-4540 WILL MEAN SLOWLY MOVING TOWARD 4620. NIFTY GOT VERY GOOD SUPPORT BETWEEN 4460-4500 YESTERDAY AND BREAKING DOWN THIS RANGE REQUIRE COMPLETE SELLING PATTERNS. NIFTY SUSTAING ABOVE 4540 WILL STRENGTHEN THE POSSIBILITIES OF CROSSING 4620 AND TESTING +4900 LEVELS. FOR TODAY ONLY WATCH THAT NIFTY SUSTAINING 4540 OR NOT AND IF SUSTAINING THEN NO QUESTION OF ANY TYPE OF CORRECTION AND UPWARD JOURNEY WILL REMAIN CONTINUED SLOWLY SLOWLY WITH REGULAR CONSOLIDATION UPTO 4620.
AFTER FLAT US MARKETS ASIAN MARKETS ARE TRADING WITH MODERATE GAINS THEREFORE SENTIMENT IS POSITIVE AND AFTER POSITIVE OPENING IF NIFTY SUSTAIN ABOVE 4540 THEN GREEN CLOSING AND UP MOVE WILL BE SEEN TODAY.
(LALIT KUMAR DHINGRA)
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