INDIAN MARKETS WERE RANGE BOUND(4570-4630) AND VOLATILE LAST FRIDAY. NIFTY CROSSED 4620 BUT DID NOT SUSTAINED AND MOVED DOWN DUE TO PROFIT BOOKING. INTRADAY CHARTS OF INDICES AND MORE THAN 50% NIFTY STOCKS ARE SHOWING SELLING FORMATIONS. IF NIFTY SUSTAINS BELOW 4570 TODAY THEN A VERY SHORT TERM CORRECTION WILL BE SEEN AND NIFTY MAY TEST 4470.
AFTER FLAT TO RED OPENING SOME VOLATILE,FINALLY DOWN MOVE AND RED CLOSING IS EXPECTED TODAY. TESTING OF 4470 IS POSSIBLE IN VERY SHORT TERM CORRECTION.
(LALIT KUMAR DHINGRA)
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