I CLEARLY TOLD FOR DOWN MOVES ON LAST FRIDAY AND TOLD WITH TECHNICAL CALCULATIONS FOR THE TARGET OF 3930 THEREFORE FIRST 3930 SHOULD BE WATCHED IF NIFTY SLIPS BELOW THEN NEXT TARGETS WILL BE :-
138.2% OF 550 IS 825
4693(1ST WAVE TOP)-825=3868(PROBABLE TARGET OF 'C' WAVE)
MARKETS MOVE ON ITS CHARACTER AND REMAINS MANY POSSIBILITIES THEREFORE WE SHOULD KEEP IN MIND ALL THE POSSIBILITIES. THIS POSSIBILITY SHOULD ALSO BE KEPT IN MIND THAT BULLISH MARKETS ARE TEND TO TEST 200 EMA DURING INTERMEDIATE TERM CORRECTIONS AND IT IS AT 3724 AT THIS MOMENT. UNTIL NIFTY IS ABOVE 3724 TILL THEN LONG TERM TREND IS UP AND FRESH BUYING SHOULD BE DONE AFTER CONFIRMATION OF CONSOLIDATION AND TREND REVERSAL.
AS GLOBAL MARKETS ARE WEAK THEREFORE AFTER WEAK OPENING VOLTALITY WILL BE SEEN. TESTING OF 3930 AND MORE DOWN MOVES ARE EXPECTED IN COMING SESSIONS.
(LALIT KUMAR DHINGRA)
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