PRE-OPEN MARKET OUTLOOK(02-07-2009)

I TOLD IN FUTURE OUTLOOK OF YESTERDAY POST CLOSING REPORT AND AGAIN REPEATING TODAY"ALTHOUGH PETROL AND DIESEL RATES HIKED AFTER MARKET TODAY BUT MY VIEW IS STILL BULLISH BECAUSE 6 DAYS RANGE WAS BROKEN OUT ON 26-06-2009 AND SINCE THEN CHARTS ARE SHOWING BUYING FORMATIONS. IT IS EXPECTED THAT ON GOING UP MOVES WILL REMAIN CONTINUED."

MARKETS MOVE ON ITS TECHNICALS AND POSITIONS AND NEWS HAVE ITS IMPACT ACCORDING TO MARKET POSITIONS ONLY. ECONOMIC SURVEY WILL BE DECLARED AND THAT MAY INCREASE VOLTALITY TODAY. UPMOVE IS ON AND RESISTANCES ARE AS FOLLOWS:-

1- 4410-4435
2- 4500-4535
3- 4640-4685

ALL INDICATORS ARE SHOWING BULLISHNESS THEREFORE MARKET SHOULD TEST MENTIONED RESISTANCES IN THE COMING SESSIONS AND IT IS EXPECTED THAT INDIAN MARKETS WILL OPEN AND CLOSE IN GREEN TODAY.


(LALIT KUMAR DHINGRA)

PRE-OPEN MARKET OUTLOOK(01-07-2009)

INDIAN MARKETS CLOSED IN RED WITH SUFFICIENT LOSS YESTERDAY BUT INTRADAY TRADING PATTERNS ARE NOT SUGGESTING SELLING AND DURING CONSOLIDATION SUCH TYPE OF SHARP DOWN MOVES ARE VERY MUCH POSSIBLE. LONG TERM TREND IS UP AND 1ST IMPULSIVE WAVE HAS BEEN COMPLETED AND ITS CORRECTION IS ON AFTER VERY GOOD SELLING AT HIGHER LEVELS OF 1ST WAVE. SINCE THE BEGINING OF CORRECTION I AM NON STOP TELLING THAT MARKET REQUIRE COMPLETE CONSOLIDATION AND THIS PROCESS IS CONTINUED. INTERMEDIATE TERM IS DOWN AND ITS TURNING DOWNWARD GAVE CONFIRMATION TO THE TERMINATION OF 1ST WAVE. AS PER DOW THEORY INTERMEDIATE TERM TREND LIFE IS 3 WEEKS TO 3 MONTHS AND TODAY IS 15TH TRADING DAY CORRECTION. AS TIME PERIOD OF 3 WEEKD HAS BEEN COMPLETED THEREFORE IF CONSOLIDATION SIGNALS REEMERGE TODAY THEN UPMOVES WILL BE SEEN AND INDIAN MARKETS WILL CROSS 1ST WAVE HIGHS AFTER BUDGET.

I WAS BULLISH YESTERDAY AFTER SOME SELLING AT HIGHER LEVELS AND ALSO BULLISH TODAY AFTER YESTERDAY SHARP DOWN AND RED CLOSING. I AM EXPECTING THAT INDIAN MARKETS WILL CLOSE IN GREEN TODAY AFTER GREEN OPENING. FOR PRECAUTION I WOULD SUGGEST THAT JUST WATCH SUPPORT RANGE IS AT 4265-4300 AND UNTIL NIFTY IS ABOVE IT TILL THEN HOPES OF CROSSING THIS RALLY HIGHS AFTER BUDGET WILL REMAIN ALIVE.


(LALIT KUMAR DHINGRA)

PRE-OPEN MARKET OUTLOOK(30-06-2009)

SHORT AND LONG TERM TRENDS ARE UP BUT INDIAN MARKETS COULD NOT HOLD AT UPPER LEVELS YESTERDAY AND SLIPPED FROM DAY'S HIGHEST LEVELS THEREFORE FRESH CONSOLIDATION IS MUST TODAY TO CROSS YESTERDAYDAY'S HIGHEST LEVELS. ALTHOUGH YESTERDAY INTRADAY CHARTS ARE SHOWING GOOD SELLING AT HIGHER LEVELS BUT LONG TERM TREND IS UP. INDIAN MARKETS ARE BULLISH AND MARKET BROKEN OUT AFTER 6 DAYS NARROW RANGE MOVE LAST FRIDAY THEREFORE AFTER FEW HOURS PROFIT BOOKING MARKET MARKET MAY MOVE UP ALSO AFTER SOME CONSOLIDATION ALSO AND FOR ANY FURTHER DOWN NOVE FOLLOW UP SELLING IS MUST TODAY.

TODAY MOVES ARE LOCKED WITHIN YESTERDAY RANGE(4360-4440) BECAUSE IN INTRADAY CORRECTION BUYING AT LOWER LEVELS AND SELLING AT HIGHER LEVELS WAS SEEN YESTERDAY. NIFTY WILL OPEN POSITIVE AND TRADE FIRST WITHIN YEDTERDAY RANGE TODAY. ALTHOUGH MY VIEW IS BULLISH AND NO QUESTION OF OF REVERSING FROM BULLISH TO BEARISH BUT I WOULD LIKE TO SAY AFTER CONFIRMATION THEREFORE WILL BE BETTER TO GET CONFIRMATION FROM FIRST 3 HOURS INTRADAY CHARTS AND THEN POST CONFIRMED VIEW DURONG TRADING HOURS.


(LALIT KUMAR DHINGRA)

PRE-OPEN MARKET OUTLOOK(29-06-2009)

LONG TERM TREND UP AND AFTER 6 DAYS RANGE BOUND MOVE INDIAN MARKETS BROKEN OUT WITH FORCE AND CLOSED WITH GOOD GAINS LAST FRIDAY. ON GOING RALLY SLIPPED FROM ITS HIGHS AFTER VERY GOOD SELLING AND I AM NON STOP TELLING THAT FOR CROSSING HIGHS GOOD CONSOLIDATION REQUIRES AND AFTER LAST FRIDAY BREAK OUT NIFTY SUSTAINING ABOVE 4320 WITH FOLLOW UP BUYING TODAY WILL GIVE CONFIRMATION TO BOTTOM FORMATION OF ON GOING CORRECTION. AFTER THAT TESTING AS WELL AS CROSSING THE HIGHS OF THIS RALLY BEFORE OR AFTER BUDGRT WILL ALSO BE CONSIDERED.

AS ALL ROUND BUYING WAS SEEN LAST FRIDAY THEREFORE TESTING OF NEXT RESISTANCE RANGE(4475-4525) IS VERY MUCH POSSIBLE. AS ALL THE ASIAN MARKETS ARE FLAT THEREFORE INDIAN MARKETS WILL OPEN LITTLE POSITIVE AND IT IS EXPECTED THAT AFTER SOME INTRADAY CORRECTION FRIDAY BEGUN RALLY WILL REMAIN CONTINUED AND INDIAN MARKETS WILL CLOSE IN GREEN TODAY.


(LALIT KUMAR DHINGRA)