I TOLD IN FUTURE OUTLOOK OF YESTERDAY POST CLOSING REPORT AND AGAIN REPEATING TODAY"ALTHOUGH PETROL AND DIESEL RATES HIKED AFTER MARKET TODAY BUT MY VIEW IS STILL BULLISH BECAUSE 6 DAYS RANGE WAS BROKEN OUT ON 26-06-2009 AND SINCE THEN CHARTS ARE SHOWING BUYING FORMATIONS. IT IS EXPECTED THAT ON GOING UP MOVES WILL REMAIN CONTINUED."
MARKETS MOVE ON ITS TECHNICALS AND POSITIONS AND NEWS HAVE ITS IMPACT ACCORDING TO MARKET POSITIONS ONLY. ECONOMIC SURVEY WILL BE DECLARED AND THAT MAY INCREASE VOLTALITY TODAY. UPMOVE IS ON AND RESISTANCES ARE AS FOLLOWS:-
1- 4410-4435
2- 4500-4535
3- 4640-4685
ALL INDICATORS ARE SHOWING BULLISHNESS THEREFORE MARKET SHOULD TEST MENTIONED RESISTANCES IN THE COMING SESSIONS AND IT IS EXPECTED THAT INDIAN MARKETS WILL OPEN AND CLOSE IN GREEN TODAY.
(LALIT KUMAR DHINGRA)
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