AS ALL TRENDS ARE UP THEREFORE I TOLD THESE LINES LAST FRIDAY:-"AS PER MY VIEW INDIAN MARKETS WILL REMAIN RANGE BOUND IN THE BROADER RANGE(4360-4720) IN THE COMING SESSIONS BECAUSE THERE IS GOOD SELLING BETWEEN 4660-4720 AND BUYING BETWEEN 4360-4420"
INTRADAY CHARTS WITHIN THIS RANGE(4360-4720) WILL DECIDE NOW THE SIDE OF BREAK OUT AND BREAK OUT SIDE OF THIS RANGE WILL GIVE BIG MOVE IN THE DIRECTION OF BREAK OUT.NOW ONLY INTRADAY CHARTS OF COMING SESSIONS WILL SECIDE THE DIRECTION OF BREAK OUT. GENUINE SELLING FORMATIONS LAST FRIDAY CONFIRMING FIRSTLY DOWN MOVE. AS LAST FRIDAY WAS BUSY DAY FOR ME AND I COULD NOT POST MID-SESSION OUTLOOKS BUT FOLLOWING SMS WILL PROOVE THAT I WAS BEARISH ON INDIAN MARKETS WITHIN FIRST 5 MINUTES AND AFTER BOOKING PROFIT I AGAIN GAVE NIFTY F&O SHORTING CALL WHICH WAS ROLLED OVER AND WILL GIVE GOOD PROFITS AFTER GAP DOWN OPENING TODAY.JUST CLICK SMS PICTURE LINK AND VERIFY MY ABOVE STATEMENT ON YOURS OWN;-
http://www.orkut.co.in/Main#AlbumZoom.aspx?uid=15126964664090279701&pid=1250362718598&aid=1234097281$pid=1250362718598
AFTER GENUINE SELLING OF 14-08-2009 GLOBAL CUES ARE ALSO BEARISH TODAY THEREFORE INDIAN MARKETS WILL OPEN GAP DOWN AS WELL AS CLOSE IN RED TODAY BUT REAL CONCERN IS ON GOING UPTREND. UNTIL NIFTY IS ABOVE 4360 TILL THEN INTERMEDIATE TREND IS SAFE AND AS PER MY VIEW INDIAN MARKETS WILL REMAIN WILL REMAIN RANGE BOUND IN THE BROADER RANGE(4360-4720) IN THE COMING SESSIONS. UNTIL INDIAN MARKETS ARE RANGE BOUND TILL THEN TRADERS MAY TRADE FOR TARGETS WITHIN THIS RANGE.
(LALIT KUMAR DHINGRA)
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