INDIAN MARKETS BROKEN OUT YESTERDAY AND CLOSED ABOVE 3 MONTHS RANGE.TECHNICALLY CONFIRMATION COMES AFTER 3 DAYS CLOSING ABOVE BREAK OUT POINT BUT I WOULD SAY CONSOLIDATION PATTERNS AND SUSTAINING ABOVE 3450 IN NEXT COUPLE OF SESSIONS WILL CONFIRM BREAK OUT AND 3RD WAVE(2ND IMPULSIVE WAVE). JUST CLICK FOLLOWING LINK OF MY 27-07-2009 OUTLOOK OF MINIMUM TARGET OF 3RD WAVE:-
http://www.orkut.co.in/Main#CommMsgs?cmm=34695909&tid=5362873148611015524
INDIAN MARKETS CORRECTED 3 MONTHS AND NOW PREPARED FOR RALLY.RETRACE MENT LEVELS OF 2008 FALL AND NEXT TARGETS FROM FIBONACCI LEVELS ARE CLEAR IN THE FOLLOWING EOD CHART;-
http://lh5.ggpht.com/_MdLrfnym5uc/SqXN3eNqynI/AAAAAAAAARY/KObH5lOfCxY/s400/CHARTS.png
NEXT RESISTANCE RANGES ARE AS FOLLOWS:-
1- 4870-4940
2- 5120-5160
3- 5200-5250
SOME VOLTALITY AND TRADING NEAR OR BELOW YESTERDAY CLOSING IS POSSIBLE TODAY. RALLY WILL REMAIN CONTINUED AFTER SOME CONSOLIDATION IN NEXT COUPLE OF SESSIONS. POSITIVE OPENING AND CLOSING IS EXPECTED TODAY.
(LALIT KUMAR DHINGRA)
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