SENTIMENT WAS EXTREMELY HEATED UP AND SELLING AT HIGHER LEVELS THEREFORE I WAS NON STOP TELLING FOR CONSOLIDATIONS BETWEEN 5000-5125 AND NOW NIFTY HAS ENTERED WITHIN THIS RANGE. SHORT TERM TREND IS DOWN BUT LONG TERM AND INTERMEDIATE TERM TRENDS ARE UP AS WELL AS INDIAN MARKETS ARE CONSOLIDATING THEREFORE IT IS ALSO POSSIBLE THAT INDIAN MARKETS MAY RECOVER FROM ANY POINT. IN THIS SITUATION TRADES SHOULD BE DONE FOR SHORT TERM.
AFTER WEAK GLOBAL CUES OPENING WILL BE WEAK AND AFTER RED OPENING NIFTY WILL TRADE FIRST NEAR 5050 AND IF MOVES BELOW IT THEN NEXT SUPPORT IS AT 4980. IT HAS TO BE WATCHED TODAY THAT WHERE INDIAN MARKETS ARE GETTING SUPPORT BECAUSE INDIAN MARKETS MAY RECOVER FROM ANY POINT.
(LALIT KUMAR DHINGRA)
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