LONG TERM AND INTERMEDIATE TERM TRENDS ARE UP AND SHORT TERM IS DOWN. SELLING FORMATIONS IN INTRADAY CHARTS OF LAST FRIDAY THEREFORE FOR ANY UP-MOVE GOOD CONSOLIDATION IS REQUIRED. IT IS EXPECTED THAT IN CONSOLIDATION PROCESS INDIAN MARKETS WILL TRADE WITHIN LAST FRIDAY RANGE IN THE COMING SESSIONS. ASIAN MARKETS TRADING WITH GOOD GAINS AFTER STRONG CUES FROM US MARKETS AND IT IS EXPECTED THAT INDIAN MARKETS WILL TRADE FIRST WITHIN FRIDAY RANGE(4465-4580) AFTER POSITIVE OPENING. ALTHOUGH SGX NIFTY IS TRADING +90 AT THIS MOMRNT BUT I WOULD LIKE TO DRAW FINAL CONCLUSION FOR ANY RALLY FROM HERE AFTER CONFIRMING FRESH CONSOLIDATION PATTERNS TODAY.
ALTHOUGH I AM EXPECTING RED CLOSING AFTER GREEN OPENING BUT GLOBAL CUES ARE TOO MUCH STRONG TODAY THEREFORE WOULD LIKE TO WATCH FIRST 3 HOURS TRADING PATTERNS FOR FINAL CONCLUSION.
(LALIT KUMAR DHINGRA)
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