ALL TRENDS ARE UP NOW AFTER LAST FRIDAY RECOVERY AND NIFTY GOT SUPPORT AT THAT RISING TREND LINE WHICH IS DRAWN FROM THE MOMENTUM DAY OF THIS RALLY ON 06-03-2009.IT MEANS THAT ONGOING UPTREND IS INTACT. STRNGTH OF THIS RALLY IS CLEAR FROM THE FOLLOWING NIFTY EOD CHART.
http://lh3.ggpht.com/_MdLrfnym5uc/SqRM8DVWjiI/AAAAAAAAARQ/-jF0s1Pu494/s400/SUPPORT%20%26%20RESISTANCE.png
CONCLUSIONS FROM ABOVE CHART:-
1- NIFTY MADE 3 HIGHER BOTTOM IN CORRECTIONS THEREFORE GOOD STRENGTH IN RALLY.
2- LAST RESISTANCE OF THIS RALLY IS AT 4744.
3- 3 STRONG SUPPORTS AT LOWER LEVELS.
ALMOST ALL THE GLOBAL MARKETS ARE NEAR THE TOP OF 6 MONTHS HIGH AND UPWARD BREAK OUT WILL GIVE STRONG MOMENTUM TO ALL THE GLOBAL MARKETS. IF NIFTY SUSTAINS ABOVE 4750 IN THE COMING SESSIONS THEN UPWARD BREAK OUT WILL CONFIRM IN INDIAN MARKETS AND THEN FAST RALLY WILL BE SEEN.
GREEN CLOSING IS EXPECTED AFTER POSITIVR CLOSING TODAY BUT NIFTY HAS TO SUSTSIN ABOVE 4750 TODAY FOR ANY UPMOVE FROM HERE AND ONLY IT HAS TO BE WATCHED FOR NEXT UPMOVE CONFIRMATION.
(LALIT KUMAR DHINGRA)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment