NIFTY TRADED LAST 3 HOURS ON 12-06-2009 BETWEEN 4570-4625. ONLY WATCH THIS RANGE(4570-4625) BECAUSE THIS WILL GIVE CONFIRMATION TO CORRECTION. ALTHOUGH ALL TRENDS ARE UP AND MARKET SHOWED EXCEPTIONAL STRENGTH BUT INTRADAY CHARTS OF MANY STOCKS ARE CLEARLY SHOWING SELLING PATTERNS THEREFORE GET CONFIRMATION FROM SUSTAINING BELOW 4600. IF NIFTY SUSTAINS BELOW 4600 THEN CORRECTION OF MARCH 2009 RALLY WILL START AND NIFTY WILL TEST 4400 AS WELL AS 4100 IS ALSO POSSIBLE IN COMING SESSIONS.
IT IS EXPECTED THAT INDIAN MARKETS WILL CLOSE IN RED TODAY AND CORRECTION WILL START TO TEST 4400.
(LALIT KUMAR DHINGRA)
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