ALL TRENDS ARE UP. INDIAN MARKETS ARE CLOSING WITHIN 15 POINTS(4808-4820) FOR THE LAST 3 DAYS AFTER 3 MONTHS RANGE BREAK OUT AND IT CLEARLY MEANS THAT INDIAN MARKETS ARE PREPARING FOR NEXT BIG MOVE. ALTHOUGH 3 DAYS CLOSING ABOVE BREAK OUT LEVELS IS TECHNICALLY SUFFICIENT FOR BREAK OUT CONFIRMATION BUT FOR PRECAUTION SUSTAINING AND CLOSING ABOVE 4840 WILL BE 100% SURE CONFIRMATION FOR A STRONG UP MOVE FROM HERE.MY VIEW IS BULLISH BUT MANY STOCKS INTRADAY CHARTS ARE SHOWING SELLING PATTERNS THEREFORE I AM SUGGESTING FOR GETTING ABOVE CONFIRMATION. INDIAN MARKETS COULD NOT SUSTAINED AT HIGHER LEVELS YESTERDAY AND CLOSED AT LOWEST LEVELS YESTERDAY BUT THAT ALSO DOES NOT MEAN ANY HARM TO UPTREND BECAUSE IT ALSO HAPPENS DURING CONSOLIDATION. IIP DATA WILL BE DECLARED TODAY THEREFORE MARKETS MAY BE VOLATILE AND WITHIN THIS DEVELOPMENT IT HAS TO BE SEEN THAT NIFTY IS SUSTAING ABOVE 4840 OR NOT. IT IS EXPECTED THAT NIFTY WILL SUSTAIN AND CLOSE ABOVE 4840 TODAY AS WELL AS ON GOING RALLY WILL REMAIN CONTINUED AFTER SOME CONSOLIDATIONS BUT FOR PRECAUTION WATCH 4840.
CUES ARE POSITIVE FROM GLOBAL MARKETS THEREFORE INDIAN MARKETS WILL OPEN POSITIVE AND EXPECTED THAT WILL CLOSE IN GREEN AFTER SUSTAINING ABOVE 4840 TODAY.
(LALIT KUMAR DHINGRA)
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