Pre-Open Market Outlook(14-07-2010)
It is the day today for which I am telling non stop and can be verified in all my previous postings. As 2 weeks back short term correction was due to negative global cues without genuine selling therefore Indian markets recovered after first sign of global recovery.
All trends are up and Indian markets ignored weak IIP numbers and disappointung INFY result as wll as moved up sharply from day's lows and closed in Green after getting positive cues from US futures yesterday. As Nifty crossed 5400 by force despite last 2 sessions adverse news infected market therefore concluded that 5362 is now good support and until complete selling does not develop till then this support will not be broken.
Nifty will now trade above 5400 and for next moves possibilities I have already told in last 2 weekly analysis therefore not describing today. Wave 3 is on and its minimum target is 6359. Although I have already posted its calculations 10 months back but will again post in next weekly analysis.
Inflation data expected today therefore high voltality possibility can not be ruled out after gap up opening and positive zone trading. Positive closing expected despite high voltality.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
