I TOLD FOR UPMOVES NEAR THE LOWEST LEVELS AT 02:21 PM ON 13-07-2009 THAT:- "3930 BROKEN DOWN TODAY BUT WITHOUT FORCE THEREFORE DID NOT SUSTAINED BELOW IT. BUYING AT LOWER LEVELS TODAY"
I AM REPEATING YESTERDAY FUTURE OUTLOOK:- I TOLD TODAY THAT IF FOLLOW UP BUYING AND CONSOLODATION DEVELOPS AND NIFTY CROSS AS WELL AS SUSTAIN ABOVE 4135 THEN IT WILL GIVE CONFIRMATION COMPLETION OF CORRECTION AND IN THAT SITUATION STRONG RALLY WILL BE SEEN IN INDIAN MARKETS. ALTHOUGH NIFTY CLOSED BETWEEN RESISTANCE RANGE OF 4070-4135 AT 4111.40 BUT TODAY HIGHEST WAS AT 4128.90 AND RESISTANCE RANGE HAS BEEN ALMOST CLEARED. CERTAINLY GOOD BUYING WAS SEEN TODAY AND IT IS ALSO EXPECTED THAT NIFTY WILL CROSS 4135 TOMORROW RALLY WILL BE SEEN IN INDIAN MARKETS.
AFTER POSITIVE GLOBAL CUES FIRSTLY OPENING AND TRADING ABOVE 4135 WILL BE SEEN TODAY BUT SENTIMENT IS HEATED TODAY MORNING AND THEREFORE INITIAL VOLTALITY IS EXPECTED AFTER OPENING. AFTER CROSSING 4135 ROAD IS CLEAR UPTO 4175 AND ABOVE 4220 MARKET WILL SHOOT UP LIKE ROCKET.
I AM EXPECTING SHARP UPMOVE,RALLY AND GREEN CLOSING TODAY BUT SENTIMENT VERY MUCH HEATED TODAY AND BROFIT BOOKING DEVELOPS MANY TIMES IN SUCH TYPE OF SENTIMENTS. IT IS EXPECTED THAT FIRST TRADING RANGE WILL BE WITHIN 4135-4175 TODAY AND WHEN NIFTY SUSTAINS ABOVE 4175 THEN ANY TYPE OF DOWN FEAR WILL REMOVE AND IN THAT SITUATION NIFTY WILL CROSSS 4220 AND INDIAN MARKETS WILL SHOOT UP.
(LALIT KUMAR DHINGRA)
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