INDIAN MARKETS POSSIBILITIES POSTED IN PART-1 IS BASED AT THIS POINT THAT ON GOING CORRECTION HAS BEEN FINISHED AT 4207 AND SHOULD NOT BE BROKEN. INDIAN MARKETS STARTED CORRECTION AFTER VERY GOOD SELLING BETWEEN 4500-4680 THEREFORE THIS RANGE HAS BECOME STRONG RESISTANCE. ONLY ONE DAY CONSOLIDATION IS NOT SUFFICIENT TO CROSS THIS STRONG RESISTANCE AND MARKETS REQUIRES COMPLETE CONSOLIDATION OF SOME MORE DAYS FOR CROSSING MENTIONED RESISTANCE RANGE. IF DURING MORE CONSOLIDATION PROCESS NIFTY DOES NOT BREACH 4207 AND NIFTY CONSOLIDATES ABOVE IT THEN IT IS CONFIRM THAT NIFTY WILL BREAK 1ST WAVE HIGHEST (4689) AND WILL TEST 6357 IN 3RD WAVE. ALTHOUGH I AM EXPECTING THAT IN THE COMING SESSIONS BUYING AND CONSOLIDATION WILL CONTINUE WITH VOLTALITY WITHIN 4207-4689 BUT IN STOCK MARKETS PRECAUTION AND CONFIRMATION IS MUST THEREFORE IF FOLLOW UP BUYING AND CONSOLIDATION COMES IN THE COMING SESSIONS THEN THAT WILL GIVE COMPLETE CONFIRMATION TO ALL THE POSSIBILITIES WHICH HAVE PRESENTED. AT PRESENT I AM EXPECTING THAT UPTO BUDGET NIFTY WILL REMAIN VOLATILE AND CONSOLIDATE WITHIN 4207-4689 AND WILL BREAK UPWARD 4689 JUST BEFORE OR AFTER BUDGET. LONG POSITIONS SHOULD BE BUILT UP AFTER SOME MORE CONFIRMATION OF CONSOLIDATION.
AS INTRADAY CHARTS OF MOST OF THE ASIAN MARKETS ARE SHOWING BUYING ON 19-06-2009 THEREFORE IT IS EXPECTED THAT AT THE TIME OF INDIAN MARKETS OPENING ALMOST ALL THE ASIAN MARKETS WILL BE IN GREEN. INDIAN MARKETS WILL OPEN WITH GOOD GAINS ON 22-06-2009 AFTER FRIDAY INDIAN MARKETS LATE RALLY AND AND EXPECTED GREEN ASIAN MARKETS. IT IS ALSO EXPECTED THAT MOST OF THE TIME INDIAN MARKETS WILL REMAIN POSITIVE AND WILL CLOSE WITH GAINS OF POINTS.
(LALIT KUMAR DHINGRA)
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