PRE-OPEN MARKET OUTLOOK(19-06-2009)

NIFTY CLOSED WELL BELOW 4365 YESTERDAY AND WITH THIS INTERMEDIATE TERM DOWN TREND STARTED. WITH THE BEGINING OF INTERMEDIATE TERM DOWN TREND 1ST IMPULSIVE WAVE WHICH STARTED ON 06-03-2009 FROM 2539 HAS BEEN COMPLETED AND BEGINING OF 'A' CORRECTIVE WAVE FROM 4689 HAS BEEN CONFIRMED. ACCORDING TO DOW THEORY INTERMEDIATE TERM TREND MAY LAST FROM 3 WEEKS TO 3 MONTHS. TOP OF ONGOING RALLY WAS MADE ON 10-06-2009 AND FROM THAT DATE MINIMUM 3 WEEKS TIME THIS CORRECTIVE RALLY WILL TAKE TO CROSS HEIGHTEST OF THIS RALLY. 1ST IMPULSIVE WAVE GAINED 2150 NIFTY POINTS AND 2ND IMPULSIVE WAVE(3RD WAVE) WILL ALSO GAIN MINIMUM 2150 POINTS FROM THAT POINT WHERE ONGOING 1ST CORRECTIVE WAVE(2ND WAVE) WILL FINISH AND 2ND IMPULSIVE WAVE(3RD WAVE) WILL START. I AM TELLING IT VERY MUCH WELL IN ADVANCE THEREFORE GRAB INVESTMENT OPPORTUNITY AFTER CONFIRMATION OF 2ND IMPULSIVE WAVE(3RD WAVE) BEGINING.

'A' CORRECTIVE WAVE IS ON AND NIFTY HAS ALREADY RETRACED ALMOST 23.6% AND COUNTERED YESTERDAY STRONG SUPPORT RANGE OF 4200-4250. IF NIFTY MOVE ABOVE FROM YESTERDAY LOWS THEN 'B' CORRECTIVE (THIS WILL BE UPWARD WAVE) WILL START AND AFTER ITS TERMINATION 'C' CORRECTIVE WAVE(THIS WILL BE DOWNWARD WAVE) WILL BEGIN.'C' WAVE SHOULD ALSO RETRACE MINIMUM THE RETRACEMENT POINTS OF 'A' WAVE. IFNIFTY MOVES BELOW 4200 THEN DEEPER CORRECTION WILL BE SEEN.BELOW 4200 NEXT SUPPORT IS AT 4100. THIS FACT SHOULD ALSO BE KEPT IN MIND THAT IT IS THE NATURE OF CORRECTIVE RALLY THAT THEY TENDS TO TEST 50 DMA WHICH IS NOW AT 3928.

I CLEARLY TOLD YESTERDAY AND REPEATING IT AGAIN TODAY THAT 'THERE IS GOOD SELLING AT HIGHER LEVELS THEREFORE VERY GOOD CONSOLIDATION REQUIRES FOR ANY UPMOVE FROM HERE". UNTIL CORRECTION DOES NOT COMPLETE AND FRESH UPMOVE DOES NOT START AFTER COMPLETION OF CORRECTION TILL THEN INVESTMENT SHOULD NOT BE DONE. AS I PERCEIVED THIS CORRECTION MUCH EARLIER THEREFORE I STOPPED TO GIVE INVESTMENT CALLS IN INVESTMENTS AND PORTFOLIOS MANAGEMENT THREAD. INDIAN MARKETS ARE SLIDING AND AFTER CONFIRMATION OF INTERMEDIATE TREND TOWARD DOWNWAD SIDE WAIT FOR BEGINING OF FRESH UPMOVE AND THEN THINK FOR INVESTMENT.

1- MACD HAS CROSSED DOWNWAD AVERAGE LINE THEREFORE CONFIRMING SETTLING OF DOWN MOVE.
2- FAST AND SLOW STOCHASTIC HAVE MOVED INTO OVERSOLD ZONE THEREFORE INDICATING ONLY A SMALL UPMOVE.
3- ROC AND RSI ARE MOVING INTO NEGATIVE ZONE AFTER SHOWING CLEAR DIVERGENCE IN OVERBOUGHT AREA THEREFORE INDICATING WEAKNESS.

NIFTY TRADED LAST 2 HOURS YESTERDAY WITHIN THE RANGE OF 4230-4280. IF NIFTY SUSTAINS ABOVE 4280 THEN ONLY SMALL RECOVERY CAN BE EXPECTED.AS 4200-4250 IS STRONG SUPPORT THEREFORE IF NIFTY SUSTAINS ABOVE IT THEN THAT WILL ONLY TELL FOR BEGINING OF 'B' CORRECTIVE WAVE AND THAT WILL NOT MEAN THAT FRESH UPMOVE STARTED AFTER COMPLETION OF CORRECTION. FOR CORRECTION COMPLETION MORE EVIDENCES ARE REQUIRED.ALTHOUGH LITTLE UPMOVE IS EXPECTED AFTER POSITIVE OPENING BUT IF NIFTY DOES NOT SUSTAINS ABOVE 4250 THEN RED CLOSING WILL BE SEEN TODAY AND MORE DOWN MOVES IN COMING WEEK.


(LALIT KUMAR DHINGRA)

PRE-OPEN MARKET OUTLOOK(18-06-2009)

LONG AND INTERMEDIARTE TERM TRENDS ARE UP AND SHORT TERM TREND IS DOWN. INTERMEDIATE TERM TREND WILL BE DOWN BELOW 4365. ALTHOUGH NIFTY CLOSED BELOW IT AT 4356.15 YESTERDAY BUT NIFTY HAS TO SUSTAIN BELOW 4365 FOR CONFIRMATION OF INTERMEDIATE TERM TOWARDS DOWNWARD DIRECTION. INTERMEDIATE TERM TREND DOWNWARD REPERCUSSIONS WILL BE WRITTEN AFTER ITS DOWNWARD CONFIRMATION.

AFTER SHARP FALL INDIAN MADE PANIC BOTTOM YESTERDAY AND F&O OPEN INTEREST ANALYSIS IS SUGGESTING SOME BUYING YESTERDAY THEREFORE SOME RECOVERY FROM YESTERDAY LOWER LEVELS IS EXPECTED TODAY. IF AFTER FLAT OPENING INDIAN MARKET CONSOLIDATES AND SUSTAINS ABOVE 4365 THEN SMALL PULL BACK WILL BE SEEN TODAY. AS THERE IS GOOD SELLING AT HIGHER LEVELS THEREFORE VERY GOOD CONSOLIDATION REQUIRES FOR ANY UPMOVE FROM HERE. FOR NEXT TREND CONFIRMATION WATCH 4365.

IT IS EXPECTED THAT INDIAN MARKETS WILL CONSOLIDATE NEAR YESTERDAY LOWER LEVELS AND WILL FINALLY MOVE UP AS WELL AS CLOSE IN GREEN TODAY BUT FOR PRECAUTION AND SAFETY 4365 MUST BE WATCHED FOR TREND CONFIRMATION.


(LALIT KUMAR DHINGRA)

PRE-OPEN MARKET OUTLOOK(17-06-2009)

I WOULD LIKE TO TELL ALL THE VISITORS THAT ALL THE FINANCIAL MARKETS MOVES ON TECHNICALS BUT THERE MUST BE COMPLETE UDERSTANDING OF ITS ANALYSIS. IT IS THE RESULT OF CHARTS ANALYSIS THAT WHEN ALL THE GLOBAL MARKETS WERE IN DEEP RED AND SGX NIFTY WAS TRADING MORE THAN 100 POINTS DOWN THEN I CLEARLY TOLD YESTERDAY THAT "AFTER GAP DOWN OPENING NIFTY WILL GET INTRADAY SUPPORT NEAR 4400 AND SHARP INTRADAY RECOVERY MAY BE SEEN TODAY". AS I TOLD 100% SAME HAPPENED AND NIFTY MOVED UP WHOLE DAY AFTER GAP DOWN OPEN AND MAKING BOTTIM AT 4405.95. I CLEARLY MEAN TO SAY THAT MARKETS MOVES ON TECHNICALS IN INTRADAY,SHORT AND INTERMEDIATE TERM. ALTHOUGH MARKET MOVED UP WHOLE DAY YESTERDAY BUT INTRADAY CHARTS OF YESTERDAY NOT SHOWING COMPLETE BUYING BUT ALSO SHOWING SELLING IN SOME STOCKS. FOR ANY UPMOVE FROM HERE MORE CONSOLIDATION AND FOLLOW UP BUYING IS MUST TODAY. AS LAST ONE DAY INTRADAY CHARTS OF YESTERDAY IS SHOWING SHORTCOVERING THEREFORE IF FOLLOW UP BUYING DOES NOT COME TODAY THEN INDIAN MARKETS MAY SLIDE FURTHER.

SHORT TERM CORRECTION HAS BEEN STARTED IN ALMOST ALL GLOBAL MARKETS THEREFORE NEGATIVE CUES ARE COMING FROM THERE. INDIAN MARKETS WILL RESPOND TO GLOBAL CUES AND LAST ONE HOUR YESTERDAY SELLING WITH WEAK OPENING AND VOLTALITY IMMEDIATELY AFTER OPNING TODAY. TODAY SESSION WILL BE VOLATILE WITHIN YESTERDAY TRADING RANGE(4435-4515) AND INDIAN MARKETS WILL PREPARE FOR NEXT MOVE. FOR FRESH UPMOVE MORE CONSOLIDATION REQUIRES THEREFORE IMMEDIATE BULLISHNESS SHOULD NOT BE EXPECTED.

AFTER WEAK OPENING NIFTY WILL TRADE FIRST WITHIN 4435-4515 AND WILL BE VOLATILE. IT IS ALSO EXPECTED THAT NIFTY MAY TEST BOTH POINTS OF MENTIONED RANGE(4435-4515) BEFORE RED CLOSING TODAY.


(LALIT KUMAR DHINGRA)

PRE-OPEN MARKET OUTLOOK(16-06-2009)

LONG AND INTERMEDIATE TERM TRENDS ARE UP AND SHORT TERM HAS BECOME DOWN YESTERDAY.SHARP DOWN OF CORRECTION WAS SEEN YESTERDAY BUT I WAS NON STOP DAILY TELLING FOR CORRECTION:-

1- 08-06-2009:-"A VERY SHORT TERM CORRECTION WILL BE SEEN AND NIFTY MAY TEST 4470."

2- 08-06-2009:-"TESTING OF 4470 IS POSSIBLE IN VERY SHORT TERM CORRECTION."

3- 09-06-2009:-"SHORT TERM TREND HAS STARTED TO MOVE DOWN FROM YESTERDAY AND WITH THIS DOWN MOVE CORRECTION STARTED. CONSOLIDATION WILL STOP CORRECTION"

4- 09-06-2009:-"AT THIS MOMENT SHORT TERM CORRECTION HAS BEEN CONFIRMED"

5- 10-06-2009:-"DOWNWARS BREAK OUT WILL MEAN BEGINING OF SHORT TERM CORRECTION AND ALSO WITH POSSIBILITY OF INTERMEDIATE TERM TREND TOWARDS DOWN SIDE.IN THIS SITUATION INDIAN MARKETS WILL TEST NEXT SUPPORTS AT LOWER LEVELS."

6- 12-06-2009:-"LAST 2 DAYS INTRADAY CHARTS OF MANY STOCKS ARE SHOWING SELLING PATTERNS THEREFORE CORRECTION IS EXPECTED"

7- 12-06-2009:-"IT IS THE ONLY QUESTION LEFT AT THIS MOMENT THAT EXPECTED CORRECTION WILL BE VERY SHORT TERM OR SHORT TERM"

8- 15-06-2009:-"INTRADAY CHARTS OF MANY STOCKS ARE CLEARLY SHOWING SELLING PATTERNS"

9- 15-06-2009:-"CORRECTION OF MARCH 2009 RALLY WILL START AND NIFTY WILL TEST 4400"

10- 12-06-2009:-"CORRECTION WILL START TO TEST 4400"

NOW FIRST RESISTANCE RANGE OF MARCH 2009 RALLY IS 4600-4680. AFTER US AND EUROPEAN MARKETS DEEP RED CLOSING YESTERDAY ASIAN MARKETS ARE TRADING WEAK TODAY THEREFORE SENTIMENT IS DAMPENED TODAY MORNING AND INDIAN MARKETS WILL OPEN GAP DOWN TODAY. SOME INTRADAY CHARTS OF YESTERDAY ARE SHOWING BUYING FORMATIONS AND OPEN INTEREST ANALYSIS OF FUTURE AND OPTIONS IS ALSO INDICATING DOWN MOVE LIMITATIONS. IT IS EXPECTED THAT AFTER GAP DOWN OPENING NIFTY WILL GET INTRADAY SUPPORT NEAR 4400 AND SHARP INTRADAY RECOVERY MAY BE SEEN TODAY.

NOW GOOD CONSOLIDATION IS REQUIRED FOR COMPLETION OF CORRECTION AND BEGINING OF FRESH UPMOVE.4400 SHOULD BE WATCHED IF NIFTY GETS SUPPORT HERE THEN WE SHALL THINK FOR UPMOVE.AS MARKET WILL BE NEAR THE SUPPORT OF 4400 TODAY THEREFORE FIRST 3 HOURS ANALYSIS OF TODAY TRADING IS MUST TO CONFIRM THAT MARKET IS GETTING SUPPORT AT 4400 OR NOT.AFTER GETTING FINAL CONCLUSION NEXT EXPECTATIONS WILL BE POSTED IN MID-SESSION OUTLOOK.


(LALIT KUMAR DHINGRA)

PRE-OPEN MARKET OUTLOOK(15-06-2009)

NIFTY TRADED LAST 3 HOURS ON 12-06-2009 BETWEEN 4570-4625. ONLY WATCH THIS RANGE(4570-4625) BECAUSE THIS WILL GIVE CONFIRMATION TO CORRECTION. ALTHOUGH ALL TRENDS ARE UP AND MARKET SHOWED EXCEPTIONAL STRENGTH BUT INTRADAY CHARTS OF MANY STOCKS ARE CLEARLY SHOWING SELLING PATTERNS THEREFORE GET CONFIRMATION FROM SUSTAINING BELOW 4600. IF NIFTY SUSTAINS BELOW 4600 THEN CORRECTION OF MARCH 2009 RALLY WILL START AND NIFTY WILL TEST 4400 AS WELL AS 4100 IS ALSO POSSIBLE IN COMING SESSIONS.

IT IS EXPECTED THAT INDIAN MARKETS WILL CLOSE IN RED TODAY AND CORRECTION WILL START TO TEST 4400.


(LALIT KUMAR DHINGRA)