ALL TRENDS ARE UP AND INDIAN MARKETS CLOSED NEAR DAY'S HIGH YESTERDAY AS WELL AS INDIAN MARKETS ARE NEAR THE TOP OF THIS RALLY. YESTERDAY INTRADAY CHARTS OF MANY STOCKS ARE ALSO SHOWING BUYING PATTERNS. INDIAN MARKETS ARE POISED FOR NEXT UPMOVES FUNDAMENTALLY,ECONOMICALLY AND TECHNICALLY BUT SWINE FLU NEWS IS SPREADING ALL OVER TODAY. THIS NEWS IS ON FRONT PAGE OF NEWS PAPERS TODAY AND NEWS CHANNELS ARE ALSO BROADCASTING ITS REPORTS TODAY THEREFORE IT IS DISTURBING BULLISH SENTIMENT. ITS IMPACT HAS TO BE UNDERSTOOD BECAUSE IF IT SPREADS IN INDIA THEN IT WILL HARM INDIAN ECONOMY AND STOCK MARKETS WILL ALSO SUFFER.
ASIAN MARKETS ARE MIXED AFTER US AND EUROPEAN MARKETS NEGATIVE CLOSING THEREFORE SENTIMENT IS WEAKER TODAY MORNING AND INDIAN MARKETS WILL BEGIN WITH RED OPENING. INDIAN MARKETS GOT VERY GOOD SUPPORT AT LOWER LEVELS YESTERDAY AND UNTIL NIFTY IS ABOVE 4530,INDIAN MARKETS'RALLY IS SAFE THEREFORE FOR PRECAUTION THIS LEVEL SHOULD BE WATCHED FOR TREND CONFIRMATION. ALTHOUGH ALL WHOLE SCENE IS BULLISH BUT UPTREND CONFIRMATION IS MUST UNDER THE SHADOW OF SWINE FLU FEAR AND IT WILL COME WHEN NIFTY WILL SUSTAIN ABOVE 4720. AS PER MY VIEW THE RANGE OF 4630-4720 WILL DECIDE NEXT TREND AND POSITIONS SHOULD BE MADE ACCORDING TO THE BREAKING OUT POSSIBILITIES OF THIS RANGE.
MARKETS WILL BE WATCHED FIRST AFTER WEAKER OPENING TODAY AND FINAL VIEW FOR TODAY CLOSING AND NEXT TREND WILL BE FORMED AFTER ANALYSISING FIRST 3 HOURS INTRADAY CHARTS. I NEVER LIKE TO GUESS AND WILL POST MY FINAL VIEW AFTER CONFIRMATION.
(LALIT KUMAR DHINGRA)
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