INDIAN MARKETS COMPLETED INTERMEDIATE TERM CORRECTION AND UP MOVE STARTED ON 13-07-2009 AT 3919 AND MY OUTLOOKS OF 13TH JULY AND BEFORE ARE LIVE PROOF OF THIS FACT THAT I TOLD WITH CALCULATION FOR CORRECTION COMPLETION AT 3930 AS WELL AS I ALSO TOLD AT (02:21 PM) ON 13TH JULY FOR "BUYING AND UPMOVE CONSIDERATION". IN THE SAME MANNER I WAS CLEARLY TELLING FOR THE LAST 2 DAYS FOR WATCHING 4380 AND NIFTY GOT SUPPORT AND RECOVERED FROM 4373.80 YESTERDAY. I ALSO INDICATED YESTERDAY AT 01:51 PM FOR "VERY SHORT TERM UP MOVE" WHEN NIFTY WAS TRADING AT 4389.45.FOLLOWING PICTURE OF SMS IS LIVE PROOF OF TRADING ACCORDING TO MY ANALYSIS BECAUSE NIFTY FUT AND CALL OPTIONS BUYING SMS WAS SENT AT 1:45:24 PM WHEN NIFTY AUG FUT WAS TRADING AT 4382:-
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LONG TERM TREND IS ALREADY UP AND INTERMEDIATE TERM SURVIVED AT 4380 YESTERDAY THEREFORE IT IS ALSO UP. ALTHOUGH MONSOON WEAKNESS AND SWINE-FLU CONCERNS ARE THERE BUT AFTER POSITIVE GLOBAL CUES IF NIFTY SUSTAINS ABOVE 4510 THEN UPMOVE AND RALLY POSSIBILITIES WILL INCREASE. YESTERDAY INTRADAY CHARTS ARE SHOWING GOOD BUYING AT LOWER LEVELS THEREFORE FRESH BULLISH MOVE POSSIBILITIES ARE GOOD.
IT IS EXPECTED THAT NIFTY WILL CLOSE IN GREEN AFTER STRONG OPEN AND IF SUSTAINS ABOVE 4510 THEN FRESH RALLY WILL BE SEEN IN INDIAN MARKETS.
(LALIT KUMAR DHINGRA)
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