ALL TRENDS ARE UP IN INDIAN MARKETS AFTER GOOD RECOVERY LAST FRIDAY. ALL THE EUROPEAN AND US MARKETS CLOSED WITH GOOD GAINS LAST FRIDAY AND AND WITH THIS COMPLETED CORRECTIONS AS WELL AS CLOSED AT 6 MONTHS HIGHST. ALL THE ASIAN MARKETS ARE BLASTING TODAY MORNING AFTER GETTING THIS MOST POSITIVE SIGNAL AND INDIAN MARKETS WILL RESPOND IT WITH GAP UP OPENING AND COUNTER FIRST STRONG RESISTANCE RANGE OF 4580-4610. IF NIFTY SUSTAINS ABOVE 4610 THEN IT WILL BE MOST POSITIVE SIGNAL FOR INDIAN MARKETS AND IN THAT SITUATION TESTING AS WELL AS CROSSING OF THIS RANGE HIGHEST OF 4731 WILL DEVELOP.
ON GOING RALLY IS IN CORRECTIVE PHASE AT THIS MOMENT AND CORRECTION IS GOING ON WITHIN THE RANGE OF 3919-4731 FOR THE LAST 3 MONTHS. SUPPORTS AND RESISTANCES WITHIN THIS RANGE IS CLEAR IN FOLLOWING EOD CHART:-
http://lh4.ggpht.com/_MdLrfnym5uc/SpIEVmi_w_I/AAAAAAAAAQ4/0AX6K-7gmL0/s400/jcharts.png
GLOBAL CUES ARE EXTREMELY POSITIVE TODAY MORNING AND AFTER GAP UP OPENING GREEN CLOSING WILL BE SEEN AND IS NIFTY SUSTAINS ABOVE 4610 FINALLY THEN THAT WILL BE THE MOST BULLISH SIGNAL FOR INDIAN MARKETS AND POSSIBILITIES OF CROSSING 4731 WILL INCREASE.
(LALIT KUMAR DHINGRA)
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