PRE-OPEN MARKET OUTLOOK(11-08-2009)

LONG TERM AND INTERMEDIATE TERM TRENDS ARE UP. SHORT TERM TREND IS DOWN AND IT STARTED DOWNWARD MOVE FROM 06-08-2009 AND I CLEARLY SHOWED MY DOUBTS ON UPTREND IN THESE WORDS:-
"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"
I WAS BULLISH BUT FROM THE TOP I TURNED BEARISH. MY OUTLOOKS OF 7TH & 10TH AUG ARE LIVE PROOF OF THIS FACT THAT I CLEARLY TOLD FOR DOWN MOVES. WHEN SGX NIFTY WAS TRADING +93 THEN ALSO I TOLD FOR RED CLOSING YESTERDAY AND :-
"PERHAPS I AM ONE OF THE VERY VERY FEW THOSE PERSONS WHO HAD COURAGE TO TELL FOR RED CLOSING TODAY AFTER WATCHING BLASTING GLOBAL MARKETS AND SGX NIFTY TRADING AT +93 POINTS"
FOLLOWING 2 PICTURES OF SMS WILL CLEARLY PROOVE THAT I WAS BEARISH IN TRADING ALSO BECAUSE:-
1- I BOOKED PROFIT OF MY BUYING CALL WITHIN FIRST 2 MINUTES ON 06-08-2009
2- I GAVE ONLY SELLING CALLS ON 7TH AND 10TH AUG AND BOOKED IN WHICH I BOOKED PROFITS.
3- MY LAST CALL IS ALSO SELLING IN WHICH NIFTY AUG FUT WAS SOLD AT 4476 AND YESTERDAY LAST TRADING RATE WAS 88 POINTS DOWN AT 4388 AND TODAY COVERING AT OPENING WILL ALSO GIVE GOOD PROFITS.
LINK OF SMS-1:-
http://www.orkut.co.in/Main#AlbumZoom.aspx?uid=15126964664090279701&pid=1249957119280&aid=1234097281$pid=1249957119280
LINK OF SMS-2:-
http://www.orkut.co.in/Main#AlbumZoom.aspx?uid=15126964664090279701&pid=1249957123403&aid=1234097281$pid=1249957123403

TRADERS SHOULD CHANGE THEIR VIEWS IMMEDIATELY ACCORDING TO MARKET THEN PROFITS ARE GENERATED. I WAS ALSO BULLISH BUT AS SOON AS I FOUND DOWN MOVES SIGNALS I TURNED BEARISH WHICH ARE PROOVED FROM MY LAST 3 DAYS POSTINGS AND PICTORES OF SMS.

ALL TRENDS WERE UP BUT BELOW AVERAGE MONSOON AND SWINE FLU SPREADING NEWS STOPPED INDIAN MARKETS RALLY. NOW SHORT TERM TREND IS DOWN. IF NIFTY SUSTAINS BELOW 4380 THEN INTERMEDIATE TERM TREND WILL ALSO TURN DOWNWARD AND THEN MORE DOWN MOVES WILL BE SEEN. AS INTERMEDIATE TERM IS UP AND 4380 IS GOOD SUPPORT ALSO THEREFORE THIS LEVEL SHOULD BE WATCHED. NEXT SOPPORTS ARE;-

1- 4380
2- 4200
3- 3920

4380 SHOULD BE WATCHED FIRST AND SUSTAINING BELOW WILL GIVE SHARP DOWN MOVES. NIFTY WILL TRADE FIRST ITS LAST 15 MINUTES RANGE(4400-4340) OF YESTERDAY AND ITS BREAK OUT WILL GIVE NEXT VERY SHORT TERM MOVE CONFIRMATION. MARKET REQUIRE COMPLETE CONSOLIDATION BEFORE ANY UP-MOVE THEREFORE 4400 IS EXPECTED TO RETEST AGAIN TODAY AND REAL RISK TO RALLY WILL BE BELOW 4380.

AFTER RED OPENING 4400/4380 SHOULD BE WATCHED. IF SUSTAINS BELOW 4380 THEN MORE DOWN MOVES AND RED CLOSING WILL BE SEEN TODAY.



(LALIT KUMAR DHINGRA)