MARCH 2009 RALLY IS STRONGEST EVER 1ST WAVE MOVE IN INDIAN STOCK MARKET WHICH CLIMBED MORE THAN 2100 POINTS WITH ONLY VERY SHORT TERM CORRECTIONS. EACH AND EAVERY TIME IT HAPPENED THAT AFTER SOME SELLING MARKET CONSOLIDATED AND MOVED UP IMMEDIATELY. LAST 2 DAYS INTRADAY CHARTS OF MANY STOCKS ARE SHOWING SELLING PATTERNS THEREFORE CORRECTION IS EXPECTED. IT IS THE ONLY QUESTION LEFT AT THIS MOMENT THAT EXPECTED CORRECTION WILL BE VERY SHORT TERM OR SHORT TERM.AS PER MY VIEW NIFTY SUSTAINING BELOW 4600 WILL GIVE CONFIRMATION TO VERY SHORT TERM CORRECTION AND NIFTY SUSTAINING BELOW 4400 WILL GIVE CONFIRMATION TO SHORT TERM CORRECTION.
AS MOST OF THE GLOBAL MARKETS ARE POSITIVE TODAY MORNING THEREFORE INDIAN MARKETS WILL OPEN POSITIVE AND CLOSE IN RED TODAY.
(LALIT KUMAR DHINGRA)
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