PRE-OPEN MARKET OUTLOOK(21-10-2009)

WHEN ALL OVER IN ALMOST ALL THE BUSINESS CHANNELS BUYING CALLS WERE BEING GIVEN THEN I WAS CONTINUOUSLY TELLING:-

I TOLD ON 16-10-2009:-"FOR THE LAST 2 DAYS.YESTERDAY INTRADAY CHARTS ARE SHOWING SELLING PATTERNS THEREFORE SHORT TERM CORRECTION IS POSSIBLE AND IN THE SITUATION OF CORRECTION NIFTY SHOULD TRADE FIRST WITHIN 5000-5125"

I TOLD ON 17-10-2009(DEEPAWALI DAY):-"IT IS EXPECTED THAT NIFTY WILL TRADE WITHIN 5000-5125 IN THE COMING COUPLE OF SESSIONS"

I TOLD ON 20-10-2009:-"EXPECTED THAT NIFTY WILL TRADE WITHIN 5000-5125 DURING CONSOLIDATION"

I TOLD FOR DEEPAWALI THAT INDIAN MARKETS WILL MOVE DOWN FINALLY AND CLOSED IN RED TODAY AND ON DEEPAWALI DAY INDIAN MARKETS NOT ONLY MOVED DOWN SHARPLY IN THE LAST MINUTES BUT LAST TRADED RATES WERE ALSO AT LOWEST OF SESSIONS AS WELL AS IN RED FIGURES. I ALSO TOLD YESTERDAY FOR RED CLOSING AMONG STRONG GLOBAL CUES AND INDIAN MARKETS ALSO CLOSED IN RED YESTERDAY,

I AM CONTINUOUSLY TELLING FOR THE EXPECTED TRADING RANGE OF 5000-5125 AND TODAY NIFTY WILL TRADE WITHIN THIS RANGE. LAST 4 DAYS TRADING RANGE WAS 4080-5180 AND IF NIFTY SUSTAINS BELOW IT TODAY THEN SHORT TERM TREND WILL TURN DOWNWARD AND THIS RANGE WILL PRODUCE STRONG RESISTANCE.

WEAK OPENING AND RED CLOSING IS EXPECTED TODAY.


(LALIT KUMAR DHINGRA)