A VERY HAPPY PROPSEROUS NEW YEAR FOR ALL..

Markets just about did nothing and kept checking the range and leaving a footprint of app 2950-3000 levels to watch for any breakout..lets enjoy tonite and let the heaviness of 2008 go by..take care..wishing all a very happy prosperous new year ..rajan bhatia.

LAST TRADING DAY

Markets have at least tried to cheer up all by recovering from (MAGIC LEVEL 2860), to move upwards close to 3000.(ASIA IS POSITIVE).which is app. half of where we were on 31st December 2007..The huge price damage and erosion which has taken place in this last 1 yr would surely be a dampner for this NEW YEARS celebration for many . 3020 is a resistance zone , cross of which can take us to 3110-3150 and supports now lie again in 2900-2920 zone.. happy trading ...cheers..

RETESTING TOPS AGAIN

The gains of yesterday got sold into in the morning around 2950 area , taking support at 2900 market traversed back to test 2990 again and closed a tad below it. Nothing much can be derived out of todays trade except that markets have come back to test its strenght, can go higher on short covering , before new year augurs some fresh buying for it to show its hand..over all a whipsaw day for traders caught on the wrong side of the trade..enjoy the day ...cheers.

CAREFUL UPMOVE

markets held the 2860 zone again , moved up ..this could be a rally in the downtrend..watch it carefully..2950 then 2990 is a area to watch again..a few closes over 2990 will reverse this down move .. trade light and in direction and let the holidays go by for some serious trading /investments calls to start..cheers..

SURPRISE SURPRISE

What can one say, the classic WHIPSAW..saw NIFTY taking support at the levels given by me in the morning and before------ turned, moved up , stalled a bit at 2880 and surged ahead to close at the top of the day at 2930 a resistance area., making shorts cover. The participation is light due to holidays ahead and serious trading will get underway only next week. Trade light and in the direction...Cheers.

WEAK GLOBAL CUES

Going into the NEW YEAR , markets are on a back foot right now , volumes are light and no major swings are expected..2880 emerges a region to watch over which is 2920 area..and supports at 2820-30 zone.. trade light and in the direction so as not to be whipsawed..happy trading Cheers.

MONTHLY CHART & NEXT YEAR

Many friends visiting the blog had been asking about the road ahead ,next year ..Well friends the NEW YEAR is just a few days away and we all hope that the worst could or would be over and behind us in 2008. Its been a real horror of a year specially jan/oct months..I am posting a MONTHLY CHART with SPEED LINES extending from the top 6357 to the bottom 2252..The chart and the speed lines are self explanatory & very clear.Please use your judgement for your trading and investment calls from hereon, rather than just blindly following FREE CALLS /ADVISE being bombarded by so many experts on WEB SITES and TV CHANNELS.. (its ur hard earned money & they are never responsible for your losses..many learnt it this year the very hard way..)...The best way forward will be to take a new year resolution of at least making a attempt of LEARNING TECHNICALS.. take care ..........CHEERS.

WEEK AHEAD

Looks like markets made a temporay top and profit taking set in immedietly due to lack of buying conviction and holiday season ahead..War noises over the weekend also dampened the market sentiments...and it kept drifting down towards 2860 supports again..it can take support here or a little down..watch 2950...... CLOSELY FOR NEXT WEEK..range is 2800-3050..trade in the direction, .trapped bulls will liquidate in rises..cheers

TESTING SUPPORTS

Markets just stalled at 2950 zone after making a brisk start , all we heard the whole day was war cries/news/rumours..so much noise created today....the result was nifty quietly slipped to 2900 and 2850 levels before any one could know..so what next?????..Weakness is there for test of 2830 area below which it may be a straight run down to 2750-2700 now.Lets see how the weekend traverses over the borders for us to make a move next week..enjoy the weekend cheers..

WEEKEND TRADING

It could be lackluster trading today or the next few days as most large participants maybe holidaying..2930-2900-2880 should be a support zone for a test again of 2990-3020 area..watch 2950 area closely for some clue to trade today..Trade light so as not to be caught on the wrong side in any  sudden move in the next few days.happy Trading ..cheers.

WEAK SETTELMENT

As written before markets just buckled day before trapping all who were bullish for this settelment ...and continued the slide today also towards 2900-2880..1st shorts took a SL then longs.. It just managed to close a little above last weeks low , but after breaching it ,,,it was a NO NOTHING DAY , where it traded with in a small range ( triggering SL s & making money for brokers). WHAT NEXT..lets see over the christmas holiday into techs & charts to see how to move forward..Happy Christmas to all friends visiting my blog and have a nice weekend with your family and friends..cheers..

MORE WEAKNESS

Asia seems to be drifting down and so can we..no heavy unloading so far, supports lie at 2930-20 zone and below at 2880..watch 2990 again , cross of which can take us to 3030-3040 zone..only above that can we head for 3100 or above..Let the settlement and the holiday go through, trade light and in direction(On a lighter note MARKETS wont run away anywhere..)..happy trading ..cheers.

PROFIT TAKING

Hope all visiting my blog would have heeded to my observations of top tops and that profit taking will set in and we will test levels of 2990-2950..We went spot on there, (We were short from 3100 levels with NF & with jan. puts)despite of huge calls of 3150-3250-3300 by so many experts , we followed our technicals and charts..lets watch 2920-30 zone carefully for any support for upmove , otherwise it will be selling on rise by trapped bulls..enjoy the day ..Cheers.

LOSING STEAM

Markets lost steam around 3100 levels after failing to go towards 3150 levels , just gave up gains..Asia is soft and some more unwinding can take place. Watch 2990 and deeper down 2950 for support....resistance now lies at 3100 zone cross of which this time can take us to 3200..Trade carefully in the settlement week and light..Cheers.

DOING NOTHING

Markets have done just about nothing , pleasing to deceive, not much conviction in the upmove as volumes were low the whole day..whats up then , markets looking for yearend clues and may dip if fresh buying does not emerge. Trade carefully and in small lots and let the settlement go past before forming any stratergy. For stock investors only buy in good dips.Enjoy the day...cheers

SOFT MARKET

Markets as a bit soft and seeking direction, we are in the settlement week where generally volitality sets in..kindly look at the weekly techs posted for trade direction. 2990 -3150 seems to be the range as of now break of either side can take us quicky 80-100 points either way..Happy Trading cheers..

WEEK AHEAD

Markets showed good resiliance and despite overall belief of being overbought/overstretched, it defied gravity to close at the high point of the week. the S/R works out to be 3050 and the range is 3220-2880..Its the settlement week & volitality will be at its peak. All inputs for boosting economy have almost been put in by governments all over the world..trade light and in the direction...Enjoy the weekend..Cheers.

TESTING TOPS

Markets are defying gravity and testing the tops again and again. Looks like the settlment is the main sentiment right now. Close over 3100 will take us to 3148-3200 area and below 3050 we are headed for 2990-2950 area..lets look at some charts/technicals over the weekend to give us some cues...cheers

SOFT MARKET AGAIN

Markets are unsure to the direction they have to take, thats the reason of the reversals /gains. Above 3078 the levels to watch are 3148-3200 and below 3040 area, 2990-2945 . Trade accordingly..Cheers

WHAT A PULL BACK

Markets again surprised everyone by displaying weakness in opening & completely reversing yesterdays fall by EOD... 2990-3020 did provide some resistance , but failed to hold the upmove.. Break of the top 3076 will take us to the level of 3148 and slightly higher of 3200-3220. Trade once again with caution on the long side and wait for good dips only to get in..The markets are stretched on the upper side..kets see how trade unfolds in the next few days ..cheers..

WHAT NEXT ???

Profit taking started yesterday from the open and any rise to 2990 - 3020 zone may now be utilised to clear longs, any further fall can take us to support zone of 2880-2860 below which a steady fall can start.Lets see how markets unfold in the next day or so, be a trader now and trade with small SL in the direction of the markets....and trade light for the next few days for markets to decide their next course. It seems yesterday a near term top is made, in case this top is taken out and we close over it , the logical target will be 3200-3220. Happy trading..cheers.

SELLING GALORE

Nifty gapped up to Deceive, made shorts take a stop loss yesterday/today then trapped the baby bulls seeking 3150-3250 levels..to just reverse and grind down to the levels I gave as support of 2945 ..HOWS THAT. ?????? All visiting my blog would have gained by reversing positions and clearing all longs..& going short even in small lots..THE MAGIC LEVEL OF 3078 WHICH I WAS WRITI NG for days as a top NEVER GOT BREACHED...SO RANGE 3078-2945 worked well today....It was a good profitable day on the short side..hope all friends coming here and in a friendly chat room enjoyed the sell call and levels given... enjoy the evening ..CHEERS.

POSITIVE ALL AROUND

Markets world over now just looking at any small good news to keep the gains going and taking markets into a overbought zone. Well this is what a Bear Market Rallies are all about. Fact is IT cannot defy gravity forever. Book your profits and sit back, let it cool off and give a good dip for you to enter again .Watch 3148 NS as that is a strong resistance for this ride. Positional traders can take small reverse trades on signs of weakness. Supports lie at 2945 & deeper down at 2860 zone.Happy trading ..cheers.

RETRACEMENT CHART

This is retracement of 2945-2812..and where the cross of 2945 was to take us..It was headed for 3078 and there we are almost today...the top of this run ican also be 3148 as of now... Markets will retrace to 2945 zone again to see their strenght..Hope this helps all who are stuck in shorts ..cheers.

SHORT SQUEEZE OR RALLY

Despite weakness from morning Nifty moved quickly in the last hour to its target of 3050-60...after crossing 2990 which was resistance of the day.The short term target is 3078 beyond which we will be heading towards 3150 zone. Supports now at 2990 , below which they are at 2950 zone. The close over 2860 for a few days , gave strenght to the markets and they have been marching ahead despite all bad news..Will advise caution here and any buy has to be done only on good dips. Take care cheers.

SOFT CUES

Markets are a little soft all over and will be awaiting fresh news for any move up..3050-60 seems to be a short term top, 2880-60 will lend support to NIFTY & 2990 resistance..Trade light and let markets define what it wants..Cheers.

TARGETS FOLLOWED

Being on the LONG SIDE from 2600 levels did make the nifty reach its logical target of 2990-3020 zone..A little more push could have taken it to 3050-60 which looked like the destination from the time we turned from 2812 area on Friday. We are very close to the end of at least this run..so do book your profits.. wait for the dips and see where the markets take supports to plan trade ahead...This has been a Shorters NIGHTMARISH TWO weeks....remember guys keep small stop losses to live to trade another day in the stock markets .. enjoy the day ..Cheers..

POSITIVE OPENING

Following the reversal of friday, the markets world over are with a positive bias today and we too will gap up and start moving towards the targets as given in the weekly technicals ie 2990-3020-3050. Trade the trend only as shorts once again have been trapped. But do keep in mind that we are in a BEAR RALLY ONLY..Given above please find a tentative resistance /support chart to help all of you to take your trading decesions.The Speedlines/Extension values are self explanatory targets , trade with them..Cheers.

TRADING CALLS - HOW WE WILL GO ABOUT .

We are preparing a set of charts to show how we will be doing and giving positional or intraday calls of NIFTY FUTURES /OPTIONS & some select STOCKS , so as to make you understand the method /timings / quality of our calls. We use not only INTRADAY CHARTS but take reference of DAILY/WEEKLY/MONTHLY CHARTS to finalise the stratergy for the calls , so as to give us maximum gains with minimum risks. We will post these to all ASAP when they have signed & informed us.For others ,they are free to discuss with me thru yahoo chat or email about these charts.. This will facilitate smooth working during trading hours for all of us ...Any other querry or help if someone has , they are welcome to sent us a mail or chat up in yahoo. Thanks again for the good response , specially to my friends who have already signed up. Have a nice weekend .
PS: If we have missed replying to anyone , the details of the subscription service please do mail us immedietly.

INTERESTING WEEK AHEAD

Nifty has been giving very good positional/intraday moves from the last 2 weeks.People following the direction will be in good profits.Despite of negative sentiments/ bad news , the markets are simply not selling out..Can they SELL OUT???????? Why BREAK YOUR HEAD ON THIS..Simple thumbrule , just follow the trend & be patiant enough to see the moves coming.. Next week 2880-90 emerges as the S/R.....The range could be 3050-2750 break over/below that would give quick 200 points..ENJOY THE WEEKEND ..CHEERS.

CLASSIC REVERSALS DAY

Nifty followed the world markets , crashed in opening , took support at 2800-2820 zone , moved back over 2860 and rushed to close at 2921 and is poised to move towards 2950 zone.., if it sustains over this level we may be proceeding to the next level of 2990-3020, Strong support now lies at 2860 levels..break of which only will augur any weakness.Hope people following my blog enjoyed the levels being given..enjoy the profits and the weekend ..Cheers.

PROFIT TAKING OR WEAKNESS.

Markets in US & Asia are soft today , due to profit taking or weakness & bad financial data.. Posting profits in longs was a good stratergy & now wait for a good dip to reenter will give rewards.. 2880-60 zone again will provide some support and break of this will take us all the way to 2820-2800 zone. Resistance over 2945 will be 2990-3020.Do not rush into trading positions , trade light and in directionas it is weekend time , the bias for today looks down..cheers.

SUPPORT HELD

Nifty held on to its level of 2860 below 2900 and we closed for the second day over that level.RIL again came to the support and in late trade made impressive move.We have completed 7 days of positive trade and people who are short must be having a harrowing time seeing the market run up so fast and the falls so shallow..the range now is 2860-2940 app. Any break out will take markets 60-80 points quickly in that direction..Trade light and with caution...Cheers.

CAUTION AHEAD

Our markets have made a smart move from the 2600 levels , now will have to consolidate the gains over time to surge ahead. The lows of october have not been breached now for over SIX weeks.Watch 2890-2900 for any weakness for today , support will lie at 2825 deeper down and resistance in positive mood should be in zone of 2990-3020 again. Keep booking your longs and wait for buy in dip for longs..Cheers.

SMART MOVE

Markets did what its was expected to do, catch the shorters on the wrong side of the trade from 2570 levels , squeezed all the steam out of them today and moved up crossing the resistance point of 2850-60 levels to close at 2928..The rally was helped by the BIG BOY, RELIANCE leading from the front, almost all segments participated in the rally . so what next ?????..lets see some charts tonite to see whats in store in the short term.. As of now 2630-40 will now be long term support for longs..take care ..Cheers.

THANK YOU ALL

Would like to thank all for you for the overwhelming responce towards our new service which we planning to start. We will send details in the next day or so as we were away for a family wedding.Coming back to markets,it halted again at the resistance level of 2850-60 on monday, before some profit booking set in , this level may be tested again today. Its important to cross this level soon failing which we will again drift down to 2640 zone..in case we fail to cross 2861 and stay over it..Trade light after opening and see how the market unwinds itself before commiting to any directional trade...Cheers.

NEW SERVICE

Dear Friends,
We are planning to start our personalised service of giving POSITIONAL & INTRADAY CALLS for NIFTY FUTURES /OPTIONS very soon. All those friends who are interested in this service and those who have been enquiring over the last few months about this service can send us a E-mail immedietly to the following email addresses:
rjn_bht@yahoo.co.in
bhrajan@gmail.com
Thanks and warm wishes , we will be looking forward to hearing from you.
Reply with details about the service will be sent to all on recipt of your enquiry.
Rajan Bhatia
PS: CAVEAT is that this blog will always remain free and as before markets technicals / charts will be posted daily for all to follow.

GOING LIGHT

Market after opening in positive gave up all gains to be light , going into the weekend event..Seems participants did not want to take a chance and lightened up their positions.We again went into the resistance zone at 2830 slipped to take support at 2690 zone..Market has been doing nothing and has to break out in some direction. Lets cross our fingers and see which direction it is...cheers.

WHATS IN STORE

Markets quickly moved to the upper end of the band after the break out and again came close to the strong resistance zone of 2850...There are no great cues coming from overseas markets , so maybe the participants again may not press buying calls resulting in weakness over next day or so with range bound trading ,then deciding the move.It will be prudent to book profits in longs and trade light and in the direction. Supports today are at 2750-2690 with strong support 2630 & resistance at 2830-60 and a little higher at 2920. Trade accordingly ..CHEERS.

WHAT A RALLY

Markets after doing nothing for most part of the morning suddenly started moving upwards broke through the 2690 zone went to 2720 , came back to test 2690 again and zoomed up towards 2750 and 2800 area. Many experts talking of the breakdown of the markets would have been caught on the wrong side of the trade..even with lighter volumes people following my blog would have been on the right side of the break out. as the range was clear 2570-2690...The move was big and we are overbought now ..enjoy the day ..cheers.

IN A FLUX

Markets are in a state of flux whereas they are doing much nothing..There seems to be a stimulus package coming in the next few days , and results season will finally be the cue to the break out of the direction. The range still remains within 2570-2690 as of now..Trade lighter and in direction only for compulsive traders. Avoid large positions or averaging loosing positions.Markets have to resume there UPWARD JOURNEY SOON in the next few days , FAILING WHICH WE ARE FACING INTO THE BARREL ONCE AGAIN. Happy trading ..CHEERS..

MARKET UPDATE

Due to some pressing work could not update in morning but have given the range yesterday evening only..Markets took resistance at 2690 zone again and could not cross it the whole day. Even the sell orders were getting covered very fast.. again today we have managed to close over 2630-40 zone.Pls. note now this is becoming a very important zone and any weakness or close below this can invite long unwinding..Lets see how other markets trade tonite..have a nice day..cheers.

RESILIANT MARKETS

Markets just reacted to the world markets in the opening, fell hard , took support around 2574 area i wrote in the morning ..surprised all ( into shorts ) & charted their own course thereon after consolidation for some time and tried to reach yesterdays close..Now what is market telling us?????? ..right now it closed squarely over the strong support of 2630-40 zone..again we have to watch this area for any weakness and look back to 2690-2750-2832 now for any resistances. trade with the trend ...cheers..

RESISTANCE FALL

Right from the word go yesterday market failed to cross 2850, slipped hard in late trade and will sell off today as the whole world indexes are bleeding. All Supports will vanish today..watch 2574 & again 2524 , though the sellout says maybe this support maynot hold this time and we may go all the way down to 2300 & below if we break and close below 2500 anytime in the next few days. As advised be careful of entering longs in a hurry, let the volitality settle, remember there is no bottom for a falling market.....Cheers.

NERVOUS AGAIN

Markets moved up quickly on opening & reached levels of app.2850...( strong resistance zone)which it could not cross ,and just started drifting down , finally collapsing from the top to 2750-2690 and lower 2670..Final Support lies in the area of 2640-30..break of which takes us straight to 2580-2500 zone and below. The selling and unwinding was heavy and , i will prefer a wait and watch policy for long or maybe wait for a bounce to short again.. Again a traders market today...Cheers..

TRADE AHEAD

Markets took support around 2500-2600 zone last week , to close around support area of 2700 . The bias thus changed positive at least for the coming few days .As said before look closely for 2850-60 zone cross of which can take us all the way to 3000 and above. Lets see how the markets trades today.. 2690 still remains a strong support zone over 2630. Happy Trading..cheers.

TECHNICALS FOR DECEMBER.

November is now behind us and we move into December with a very sombre note after the Mumbai episode. Just lost track of technicals etc in the last few days..Anyhow very important to watch 2850-60 zone .This will be the S/R for the month of December. The range could be BTW,2050 to 3650 ie end to end. Weekly technicals suggest watching 2750 zone , range being 2900-2600. All figures given are for NIFTY FUTURE. HAPPY TRADING ..

RESILIANT INDIA

Markets closed in positive despite the worst possible enviroment in MUMBAI & the battle with terrorists still raging hard at all 3 places..Point to be observed is we closed over last months settlement (october)..( this has happened after sometime..)..2718 was where the markets were taking support from ,and then making their move upwards towards 2760-80 range..Do not wish to write anymore today as my heart is still with our security forces in MUMBAI..waiting for this nonsense to finish..lets all pray..good day.

SETTLEMENT DAY SWINGS

Watch the pivot today for cues ie 2718, as market could swing anywhich way.Supports at 2690 deeper again at 2640-50 and resistance at 2760-80..best is to see how trade unfolds and take it from there. Keep the trade size low today & let the settlement and the Mumbai incident pass over the weekend.Cheers.

A VERY SAD DAY.

This is one of the SADDEST DAYS i have witnessed in many years when through out the night we saw our countrys financial capital being held hostage so ruthlessly by a bunch of terrorists. My Heart goes out for all the brave Maharastra policeman, defence/ security personnal and innocent employess/guests /bystanders killed or maimed by this incidence. I hope our central goverment & specially our politicians rise above petty squabbles to finally do something for this country , specially against terrorism. JAI HIND.

WHAT A DAY

Markets never broke the 2630 levels given b4, tested the base and then moved straight over the pivot 2690 for a run for the resistance ie 2750-60 zone..HOWS THAT FOR A RANGE CALL...The bias seemed distinctly negative today to many , and they went short , got trapped and had to pull the STOP LOSSES in the end ..longer timeframe in intra day charts was warning from the morning of a move up, despite negative cues,thats why had cautioned friends visiting my blog to be careful of this volatality and that will damage the mind and pocket...anyhow good profits again for intraday traders(a few of my friends included , trading with me today) following technicals/ charts..lets see , tomorrow again is a new day..cheers.

UNDECIDED

Markets are undecided about their direction, due to lower participation near resistances...& also still not convinced about leaving the lows behind...The pivot for today is 2690 zone with 2580-90 as a support zone and 2750-60 as resistance zone ..Keep your trades on lighter side till markets make a decesive move.We are into the last 2 days of settlement and can witness swings , so trade intraday carefully so as not to be whipsawed either way.,,happy trading ..cheers.

ROLLER COASTER RIDE

Markets opened with a gap up and immedietly started selling , held on for a while and then as the day high was not cleared for over 2 hrs , it just gave way, loosing all the days gain to go much below yesterdays close . ITS A CLASSIC REVERSAL DAY TODAY. Markets below 2750 came teasingly close to my support of 2630, and it came there so easily that it is a tad difficult to accept .. Well weakness is verey evident and lets look at the charts again to make a semblence of what happened today & whats in store from here.. Hope all took profits of the longs or had TSL today on their longs...CHEERS.

GLOBALLY POSITIVE

It seems the bailout package of CITI , announced yesterday provided the cue for the upward rally.Asia is following US news again.Technically speaking I had written that we should not close below 2524 & we did not and moved up to over 2630 quickly from there. The target always was 2750 -2860-70 . People who are long in FNO can start boooking around the resistance zone or keep strict TSL. KEEP close below 2630 as TSL for all longs for times ahead. Short Term indicators are showing positive cues, in case we are able to consolidate and keep making higher lows the bear market rally is in place. lets watch the next few days for the cues.enjoy the trade today ..cheers

WHAT A DAY

The markets became volatile right from the word go and traded in the range written in the blog today.....2750-2630,,,, hope all enjoyed todays call and again it proved to be a traders day.., Some amount of help is reqd. to push the markets to 2860 and above zone..Otherwise it may just start drifting downwards again..Lets hope some cues come from overseas markets ..weekly range pls. keep in mind for trading...take care cheers ..

TRADING RANGE

Looking at the chart above we are looking at a range of 2750-2870 and supports at 2630 zone.The TSI has turned positive but needs to cross zero to gather strength for any upmove..( the weekly range already given below ).The melt down over the weekend of CITI GROUP is having its effects on the Asian trade today,CITI incidently has good holdings in equities all around including India.Hope all turns out well, otherwise another round of liquidation can start in Asia etc.Trade with caution, as this week has lots of news coming, hopefully positive ,trade with the trend..Cheers.

INVESTTIMES ARTICLE..(NOV issue)

The article in BSL's INVESTTIMES in the november issue..the link below.page 52
http://www.birlasunlife.com/distributiontsetIMS/new/Investime_Nov_08.pdf
Hope all enjoy it ..cheers..

THE WEEK NEXT WEEK.

Asia up, India well up, US , despite weakness proppped up...Did i write buy select stocks, and indicators severely oversold and 7 days of fall....& we are just there ..( just recaps from last 2 days views) of hope my views are helping visitors to my blog become adept traders as thats what markets wants us to be for some time to come. The target clearly was 2750 , we just about reached there, and if we hold 2680-60 and deeper 2630-40, we can surely head for 2750 , and then to 2860 range, remember that gr8 support area which will now be the big resistance to cross....in case of move over 2860 maybe we head for targets like 2920-2990 zone. The broader range for this coming week is 2500-2900..Trade accordingly...enjoy the weekend ..cheers.

SURPRISE SURPRISE

Despite huge bearish calls by many experts specially after the US markets crashed of nifty falling to sub 2450 range and below , did not help their cause as markets did the unthinkable , moved up from morning trade only and despite heavy sell off regained all lost ground to move over 2700.., making them hopefullyto wonder as to what happened.Technically , markets had unfolded todays move yesterday and i had pointed out that the late cross done by the market of days high and severe oversold position and today being 8th day of the downtrend,..the move up over the pivot will be towards 2750...We surely are heading there..Hope all visiting here enjoyed the call..cheers.

PS again a gr8 day for traders with unbiased mind and following the trends.App. 400 points of NIFTY.

WEEKEND BLUES

Finally the US markets after lots of wait broke their lows yesterday. Asia markets are weak and CRUDE ........ (god knows where it will halt, good for the world.)..Now can we say that lows of 2008 are already made for the whole world & the BEAR RALLY can resume.Lets watch tonite & start of next week for the cues...I think we are almost there.Next few days will confirm this or if we slide further to test the october lows.., watch 2470 zone for support today & we will complete 8 straight days of fall today. .. 2563 is todays PIVOT for the day and cross of 2582 can take us to 2750 zone...Trade accordingly...cheers
PS: will look at some charts during the weekend for more cues and targets etc.

FINDING SUPPORTS OR HIGHER BOTTOMS.

Despite huge bearishness around our markets did go below 27th october, monday close, traded for some time and smartly bounced back despite repeated selling, closing smartly at days high and over 2524 the close of that fateful monday....Bulls did come in to stop the free fall , and it looked like short covering started at the end..Its was important for market to breach and go above 2575.80 today only , and it did 2582.85 in dying moments. If todays low holds for the next 2-3 days, we will surely see a decent rallyup due to WAVE C being formed from here... .Watch & trade accordingly..Most stocks from the Index were at very attractive prices again..Indicators short/medium are very oversold & TODAY WAS THE 7TH DAY OF THE FALL....CHEERS

WASHOUT AGAIN

Markets all over have plunged , and will trigger our market too to gap down.Falling markets have no supports but still supports lie in zone of 2524 and further down at 2468. Select stocks where profits were taken at tops can be picked up today/tomorrow as per your risk appetite as they will again be available at attractive prices with todays open.This is still part of the bottom formation & consolidation , where markets go and test the recent bottoms to see where participants are finding the balance.As markets this month are rewarding both ways , be a trader this whole month .Everyday market is rewarding, so no need to take risks , just follow the trend of the day...CHEERS.

SELL OFF AGAIN

Markets in India despite weak Asian cues ,hesitated and then took off and retested the tops made at 2771 zone, where selling came slowly but surely.The selling then was relentless till the end of day and markets went below the support levels of 2630.Overall if one noticed in the last 2 days the rise was on lower volumes and still the selling is on higher volumes. IT WAS A TRADERS PARADISE AGAIN , FOR PEOPLE FOLLOWING CHARTS/PATERNS (simple yahoo charts , links which are provided in my blog too would have enjoyed the ride )..What next, lets see it tomorrow morning ..take care ..Cheers.

ANY BOUNCE BACK FROM HERE ???????

We are at a very critical levels 2630 zone which is basically 61.8% of the total rise from 2252-3240. Point to be noted here that the WAVE B generally does a 61.8% correction of WAVE A,failing which it can then trail down to around 78%, failing which it can take us all the way to october 27th low or lower.Now in case we hold around these areas, get ready for a good ride up for the WAVE C. 3050 is the NF S/R still . trade accordingly..(Asia is in negative territory still)...lets watch the next day or so closely for some cues & trade accordingly..cheers

TRADERS PARADISE

I had said at the begening of this month , that November will be a month for traders, all smart traders are taking positions with the direction on a intraday basis, squaring of at EOD and starting afresh the next day, ( much better than being biased , taking a postion short or long, and then after some up/down YO YO by the market nextday squaring off near the buys ,with next to nothing profits). Traders who squared off yesterday got the trade DOWN -UP-DOWN-UP-DOWN.. today , even a novice would have caught it well, and would have made good money.. Incidently markets after breaking 2750 took support around 2670 zone today..Trading should be the mantra for a few more days/weeks maybe..enjoy the day ..cheers..

RETESTING LOWS

Markets all over are retesting their lows again and again and trying to get to the next bottom , which could be near/lower/higher than old lows.There are no positive cues coming from any GOVT. now and it seems all the guns have been fired and markets now will have to find its own path despite all the bad news coming daily from all around.Our levels to watch will be 2860-2900 on higher side and 2750-2670 on the lower side..Trade accordingly as global cues today are soft to negative..cheers

SUPPORTS TESTED

Supports were tested at 2750-2700 zone today after the markets slipped in the opening . Smart recovery was made in last hr. of trade making markets go for a while went into positive territory, then came the profit taking in the end by intraday players.It seems at lower levels participants are not ready to press shorts and are just covering their short positions of the last few days. Today was the 8th day from the top ie 3240, so shorts were cautious and covered at the first sign of pull back.Positive overseas cues will take us to at least 2860 zone cross of which only we can think of somekind of rally till settlement. CHEERS.

SOFT MARKETS

Markets in Asia are just about doing nothing and are flat to negative. Levels have been given for next week, in case markets do not sucumb to pressure in the next few days ,it may go to retest the recent tops made at 3254-3240, trade accordingly...Cheers.

TOUGH WEEK AHEAD

it will be a tough week ahead and could be a traders nightmare if one is caught on the wrong foot.I will advise all to trade with caution and see the trend before plunging resources for a longer committed play.2900 ZONE seems to be the S/R for next week. We had ended the week on negative grounds with wild swings & as US markets too gyrated wildly on friday ending finally in negative territory , it will be worth watching the Asian start for the next weeks cues.Watch 2760 closely for weakness downwards.& 2920 for upward breakout in NF..happy trading CHEERS.

MIXED TRADE- NO CUES

Very volatile day trading again like yesterday in a YO YO fashion. The range market made today is 2780-2860 where it spent most of the day.Lets see how the G20 meeting goes for any cues for the coming weeks..will look into charts for some footprints over the weekend..time for relaxing and some fun..cheers

WEEKEND G20 MEETING.

Looks like the world indexes are not taking any chance as the G20 summit takes place this weekend for radical steps to be taken to ease the WORLD FINANCIAL DISORDER, and have started by covering short positions before this event . As per the chart i posted yesterday, area to watch is wednesdays low of 2780-2750 zone as of now for any weakness to continue , if that area is held in close , our markets may try to consolidate in the 2860 zone once again , and attempt 2990-3085-3220 area..Trade light over this weekend and follow the trend formed from next week....cheers

WHERE ARE WE HEADING.

The chart above shows the path where nifty was to head through the speed lines. the R2 which was at 3250 could not be crossed , R3 is at app. 3700 .Onthe way down it breached 3085-2860 and halted at 2780 zone to close higher due to short covering.kindly note from the chart that BOLLINGER BANDS have turned and are flat as of now , meaning that any deeper falls below 2780, will get good support beyond 2631 area at 2536 and 2424 zone.Right now we have filled 2 gaps of the 4 which were created in this rise up from 27/10/08 till 12/11/08.
Any breach of the 2 levels of bollinger will rocket us to old lows and lower in the the zone of 2000-2100 area. Please take your direction/positional/ trading call for the next 4-5 trading daysas you feel fit .....cheers.

PS: I received mails/offline messages for posting my views for a week or so ahead, hope this helps..

SEA SAW DAY

What a ride LOW-HIGH-LOW-LOWER-RETRACE..... ..morning short covering took the markets at high point 2975 and sudden selling made us break and test the 2 levels mentioned again and again by me...ie 2860-2780.. In case we break today low we will head for 2631 and above 2860-80 we head for 2990...Trade accordingly..cheers

MARKETS TODAY

Markets are a little bit weak still but do not show any massive unloading..Watching RIL yesterday, one could see that strong hands are coming to support it below 1200, and W/O RIL , dont think markets can travel southwards much.If markets fail to break 2860 and make a higher high, well then we are looking at 3400-3649 as possible targets again over 3240. Above 2960-70 nifty is strong ..A break below 2860 will quickly take us to the 2800-2780 zone and all the way to 2670.This is the litmus test which i had mentioned a few days back , the market has to undergo to test the bulls strength. I still feel that the BOTTOM maybe in place already, (lets watch 2631 closely for any low testing). happy trading ...cheers
PS: will post some charts tomorrow , being a holiday.

SOUTHWARD BOUND

Well well nifty showed weakness from the opening only and started loosing steam , catching the bulls by surprise , slipped below 3085 and quickly moved towards 2990-3220 area , where it tried to hold but slipped to a low of 2919 intraday. We have to watch 2860-2860 for some support failing which we will go to the next levels of 2780-2670-2631 area quickly..Hope all had booked their longs & taken short trading positions ..lets see where this ends before any positions in long can be thought of, as the sell today was big..enjoy the day...cheers..

PROFIT TAKING

Markets in Asia are soft due to weak global cues.Resistance of 3220-40 may not be tested today and support at 3085 should lend support failing which markets may retest 3020-2990 levels. Watch this level closely for getting out of longs as markets maynot hold 2860 this time if it ventures in that territory. Trade with caution in small trades to allow market to make up its mind and then follow the trend. Remember this month will be traders delight and strictly follow the trend , not your heart....happy trading..CHEERS.

STRONG PULLBACK

Our markets carried forward the gains and the S/R levels of 3050 , again worked as a beaut. for going long. Markets closed trade at the top of the day , trapping the baby bears once again who were short on friday and went short again today.. The charts clearly were showng resistance at the zone of 3200-20 in nf & thats where the markets seem to be going today.. Short covering was witnessed at the last 1/2 hr trade as Europe was up and US futures over 200.Positive global cues may give a fillip to our markets tomorrow on opening . Do post all your profits again in stocks or NF longs.., wait then for the market to tell its mind...cheers

PS: MS DHONI and his team deserve a congrats& a pat for putting the massive aussie machinary down on the mat twice in this series.

POSITIVE CUES

As expected Asian markets are responding to US clues and trading in the positive territory. As suggested in the weekly technicals nifty will face resistance in the range of 3085 to 3240. Trade with the trend , till a reversal or weakness is in place.Book profits if any have been left out and wait for good dips to enter again for bounce up. Supports and Resistance levels have been clearly told in the weekly technicals. Cheers.

NEXT WEEK

Nifty took support around 2850 levels and moved up once again. Global cues remaining positive next week , NS can retest 3085-3120-3200 zone once again..cross of 3240 can zip the markets to 3650 zone..Time to be cautiuos at highs again ,as the markets can go lower(Break of 2860 will zip us to lower levels of 2631-2525 quickly) to either test old lows or make higher lows . If the lows hold ,then it is time maybe to buy for medium term, the better performing stocks.. hold them for 2-3 months for a ride up.Remember monthly S/R is 3050 for NF..Happy Trading....cheers

PS: do visit for a EXCELLENT MULTI YEAR SUPPORT/ RESISTANCE chart posted by nifty chaser @http://www.niftytopsnbottoms.blogspot.com/

RESILIANT MARKETS

Despite bad US clues , markets in Asia , including BSE/NSE rallied strongly, absorbing all sell calls of the day. NS 2850 held and strong hands, maybe new ones , pressed the basket buying route as it was a secular run for almost all stocks.Will watch 3050 NF & 3085 NS for next week..Bottoms still have to be retested so dont be complacent in the coming week or so, be traders and trade light & be fleetfooted..Markets are rewarding the traders daily.Catch the trend w/o bias ..enjoy the weekend ..cheers..

WEAKNESS OR CONSOLIDATION

Nifty dropped froma top of 3240( A strong resistance zone) and is consolidating around 2850 area, support below is 2780-2700-2630 and resistance to any upmove will again be 3050. Shorts should be avoided over 3050 & any longs if initiated around here should be traded with strict stoplosses as supports are way down.Selected stock pickings can be done on the way down for a trading bounce..enjoy the trade....cheers

PROFIT TAKING

Markets carried on with their corrective phase, stopped at around critical support in 2850 area ( written before) , spending much time there and then a sudden rush to yesterdays close , with sell out again, as people trapped in longs just wanted to get out..Markets are showing resiliance and have only shaken out the excesses it has done on the way up..Intraday indicators have moved down too in the last 2 days easing the overbought indicators....watch 2850 area closely below which 2778 will provide good support..If one looks at the cross section of butchered stocks one may be surprised that they are inching up despite last 2 days falls, (someone is finding value)..Hope for the best , lets see how things pan out in the next few days....cheers & have a nice time.

PROFIT TAKING

After putting behind the major event last night ie US presidential elections , Markets have slipped well today all over on profit taking of the dream run of the last many days ..As advised all profits to be booked yesterday will leave smiles on the followers of this blog. Weakness started despite great opening yesterday and 2 levels , the close day before & 3050 crumbled like nine pins.This was a fake out to trap baby bulls. Support levels have already been given, 2850-2780 below 2950 zone..This pull back will clear the trend for the coming weeks/months..let the dust settle , market will show you the new lower or higher lows then get into long positions..patience will be the key to future profits now.. trade accordingly...cheers

HISTORY MADE TODAY

US today fullfilled the dream of one of the greatest AFRO AMERICANS , Dr Martin Luther King, whose famous words still ring a bell , I HAVE A DREAM........BY electing Mr Barak Obama, The next President of America...TRUE SPIRIT OF FREE ENTERPRISE AND DREAM FOR ALL....Hope this augurs a new dawn for the world order...
Coming back to our markets , they saluted the US results and as expected and written in the morning, slumped completely to selling pressure as the markets went really overbought today..touching my levels of 3085 and then almost 2950..will see how trade fares in the next coming days ..This will be litmus test for the market to trade ,test, consolidate and find a new bottom which will tell all where we are headed in the next few weeks and months ..dont be in a hurry to buy..Take care ..cheers..

EUPHORIC NOW

The S/R 0f 3050 NF got breached yesterday on the upperside and the follow up today seems to turn the world markets into the party mode and the main trend which was UP, continues today too (SGX nifty around 3300). Time to book all profits today & maybe stay on the sidelines for a day or so as now the Markets will go in overbought /stretch mode. Be careful at these levels and wait for good dips to go long again.Strong resistance zone will be 3300-3350 area. Support will be there now in range of 3085-2950 zone below which will be 2780-2850.. People who panicked and sold at bottom or did not buy would surely be rueing along with sell on rise guys.I had commented on a Friends blog (LEE'S) that FORTUNE FAVOURS THE BRAVE......CHEERS

BULLISH STILL

Target given of 3050-3150 both achieved today, markets shrugged off the selling pressure today and slowly but surely moved above 3050 towards 3150 , heading maybe towards 3221 the minimum target I posted in the WAVE charts..The last 1 hour trade surprised many and the shorts of the last few days got completely butchered thus forcing big short covering. Had mentioned before also that as the weak hands are out & the strong hands have no fear of sell ,also the short covering of lended stocked sold by FII is taking place too making the markets go higher.Hope all enjoyed the ride up...as this was really a spectacular all the way..cheers

PROFIT TAKING TO SIDEWAYS

Markets will need fresh buying momentum to push forward , maybe with news or triggers in the coming days failing which it will be sideways to corrective dips of this huge rise from bottom. Markets can retest the bottom again or maybe stop higher thereby signalling to participants its footprint for trade to come in the coming weeks/months.Point to note here is Momentum/Index shares despite of severe beating , did a smart recovery.Wait a bit for market cues to settle before intitiating any longs..the trading ranges have already been given during the weekend... happy trading....CHEERS.

PULLBACK CONTINUES

Markets gapped up and continued their upwards journey absorbing all selling coming from short term traders.., closing in the end at the upper end of the days trade. Short squeeze was the order of the day and ( SELL IN RISE, baby bears) kept waiting with sinking hearts for some fall or respite so they can get out of their positions.. will the markets correct, surely they will , this is 5 th day from the bottom and a 800 point nifty ride..BUT WHEN & WHERE..well well this is the hard part ..no one knows but it should come about in a day or so.the resistance range still is 3050-3150 NS.. enjoy the evening, cheers

TENTATIVE WAVE COUNT

Attached above is a tentative 5 wave count from may 2003 to january 2008 & maybe corrective WAVE A at 2252. The markets can experience a corrective 3 wave upmove to form WAVE B,(B1,B2,B3 are the probable targets ).The corrective 1st wave has started most likely from 2252 and as said before 3050-3150 seems to be the target right now..After completion of the WAVE B, the markets will resume their downwards journey to make the final WAVE C. The normal time taken for the upmove is anything between 6-10 weeks app. (Lets see where the correction of this 1st wave up takes us down to & from wherewe correct , as at this stage generally external help pours in also , which propels markets up along with short squeeze..)

Such panic bottoms are a normally traps for the baby bears (SELL ON RISE TYPE )who keep shorting the rise thinking the down waves will continue , whereas the smart bears have already turned a bit bullish..The technicals for the week and month were discussed below..Hope this helps all who are confused and asking all experts ,as to how to trade in the coming days and weeks..enjoy the ride up ..cheers

BRAVEHEARTS WHO BOUGHT STOCKS CAN KEEP BOOKING.
PS : SGX nifty is up and running..

NOVEMBER MONTH POSSIBLE RANGE.

The range for NF in october was very high, 4061-2228, which basically did unprecedented damage & carnage , not seen in decades in India or anywhere in world markets..Ocober ended with some respite..How will November pan out??????..NOVEMBER ZONE to watchout for i feel is NF 3050, Above that if we get a few closes , the BULLS can take over , below that well , BEARS back again at their job..The range could be large again as of now between 2100-3800. For this WEEK watch 3150 for RESISTANCE & 2670-80 levels for support, below which, support will be at 2500 area ..As selling is overdone, and weak hands are already out or completely desimated, strong hands should lend support at everydip and carry the market further up in the next month or so.At every level participants still stuck in positions will keep getting out or deleveraging their positions, thereby keeping the markets under pressure for some time to come. A good stratergy could be PLAY the SELL CARD when markets make lower highs, and the BUY CARD when markets make higher lows with strict stop losses in place.. Basically meaning become traders for sometime. Wishing all of you a happy November Month,,,,,,cheers.

SHORT COVERING

Starting this SAMVAT , the positive trend is continuing and shorts are getting squeezed this time. Markets were mixed in Asia and despite profit taking, at 2780 -2800 zone short covering came in this area after the markets failed to drop any further and a very quick ride up in last 1/2 hr trade took us again around the top of the day..After a long time one can say, relax and enjoy the weekend...cheers.

PS: history will remember october '08 for times to come and lots of fundamental/technical papers will be written about it in years to come..

PATH AHEAD- resistance clusters

The 3 major downwards moves came from 4649-4303-3649, i have taken the retracement from 2252 for all these 3 levels..The upmove resisitance comes in the shape of clusters here for the move up, CLUSTERS are at app. 2800-3050-3200. October is coming to an end and i dont think we will make any more new lows this month. Bulls have to forget the brutal hammering they got at the hands of the bears last month and keep taking the market slowly away from 2252 to make a semblence of sanity for times ahead. Around 2524 ( monday close ) levels will hold a key area of supports for times to come . Let us see how the footprints are made in the next week or so, to see the trade ahead for the next 2-3 months..Markets i feel will be traders paradise for some time to come..People who had bought the panic dips of friday and monday should book profit and buy again in dips . Trade accordingly , cheers.

V ANAND - INDIAS PRIDE

Standing Ovation and Salute to one Indian who has made us all proud again and again, Viswanathan Anand. You have no parallels . Keep the Indian flag flying high ...Thank you...cheers.

YO YO DAY WITH POSITIVE BIAS

Markets reacted to good positive moves in the US and continued yesterdays positive cues ,but kept getting knocked again and again to profit taking..The YO YO was due to settlement day and GOVT announcements coming tonite..Thank god this series will come to a end , also this BLACK OCTOBER '08. Will be remembered for a long time to come by all participants of the stock markets . Resistance is around 2780-2800 area and support at around 2670 ..break of which will give a quick 150 points move either way..Take care ..cheers..

POSITIVE SAMVAT

Markets world over it seems celebrated the the festival of lights DEEPAVALI, by giving a thumping single day gains.The script got written on friday when our markets trashed and then recovered after faltering once or twice..Nifty moved back from the extension area in the chart i had posted and all the buys of the last two days if visitors to this blog had done are in very good profits including FNO.As we may gap up again today ,resistance may come at 2800 area around..majority profits should be taken off the table for once and the rest traded with strict trailing stoploss. The range to watch is app. 2750-2914-3050 area for this week. Remember had written for weekly range that markets strong over 2800 and will take support around 2350 area. trade well and best wishes for the new SAMVAT..cheers.
PS. A interesting blog you can visit for nifty range is http://www.niftytopsnbottoms.blogspot.com/

HAPPY DIWALI

I would like to wish all friends a very HAPPY DIWALI AND PROSPEROUS SAMVAT2065.
We hope to look forward to better times in the coming months and year.May goddess LAXMI give her blessings to all of us ( sincerely needed by us this time).

ARTICLE IN INVESTTIME OCTOBER ISSUE.

link below for my article in the Birlasunlifes Inhouse magazine INVESTTIMES. (page39)
http://www.birlasunlife.com/distributiontsetIMS/new/Investime_Oct_08.pdf

HELL & BACK

What a day, no one knows now what is happening and why it is happening..only saving grace is that we recovered for the day and did not close again at absymally low levels..This surely will be the blackest diwali in history of indian stock markets as no one remembers anything worser happening level wise/price wise..Lets hope the last samvat ends today and the new samvat brings about some cheer..lets forget markets for somtime and enjoy the festival of lights...wishing all friends a very HAPPY DIWALI..cheers..
PS: WE HAVE COMPLETED 51 DAYS OF FALL TODAY, from 4649.

TRADING TODAY

Markets in Asia are still weak today morning, the pressure is huge and buyers may still be holding back the BUY CALL as to get more juice from these weak markets..do look at the charts posted yesterday and trade accordingly..CHEERS

NIFTY CHARTS- ROAD AHEAD.

The charts above are self explanatory, however CHART1 is the extension/progression chart from 5298-3750-4649 giving the targets till date.. .. The CHART 2 shows that speed lines connection 5298 to 3790 which is showing support around 2450 area , In hindsight it looks as if that When markets could not hold above 3250 and then failed repeatedly to cross 3300, it was as if waiting to test this SPEED LINE AREA..Also please note that the fall from 5298-3790 took 52 days(red line/days) & the fall this time from 4649 to 2525 is already 49 days old..(blue line days), so looking at the markets from any angle in the above two charts gives me a understanding that despite that fact that we are at all time lows.... the supportlines/time cycle/support areas ..& we could be near a end..Do study the charts , make your own anlysis, and take your call..This carnage too will end abruptly as the euphoria ended rudely in january..cheers..

PS. will welcome comments on the charts and analysis i post..

TRUNCATED WEEK AHEAD

Nothing much from the trade from US markets except that it was very volatile and it was not a washout as was in Asia , specially here in India. This OCTOBER MONTH will go down in history as the mother of CAPITULATION, for world financial markets and a huge watershed which decades ahead will be discussed by TAs, for clues and Analysis.
So whats in store next week, most people are seeking views and help of experts as to how to proceed...equity/commodities etc all giving no safe heaven????The fact is no one knows, but someone is buying..People looking ahead and with cash have bought in the last few days,including my wife, and will buy scrips if they dip more for trade and hold....People with Resource capacity & risk appetite only should buy here , otherwise just trade the trends with options ,NF, or one can do daytrades..The fact sadly is that most traders/investors world over play on the long side only as they do stocks ..and are not savvy in futures/options..thus their pain is more high as they dont play the short side of the market.
Coming back home S/R in NIFTY next week will be around 2800, with support at around 2350 & resistance around 3050.It being a Diwali week and also truncated , volumes maybe less..Take your call, will look at some charts tomorrow and try to make some sense out of them for future..cheers..

BLACK FRIDAY

Not much to say except total abject, surrender & capituation..heading towards a frenzied end.. No one thought we will come this far so fast..Support after support went crashing down..As there are only seller and no buyers , something dramatic will have to be done by GOVERMENTS to stem this rot. we are below the june'06, levels today , Prices at much more lower than at those levels ..Bad end to this SAMVAT..This is despodency at its peak..Take care ..cheers

BOTTOMING OUT

Markets will be bottoming out soon as this looks to be the last stages where everyone has just given up on the markets and despodency set in now with absymally low levels are being proposed..The Andrewspitchfork above is showing a tentative target, and this is matches & will join with a very strong multi year support line (2750 ) around which the markets can take support and give the much needed relief rally..Samvat trading is on tuesday and a turn of sentiments may be in offing soon. look at the support lines provided in the chart to plan your moves and calls..take care cheers...

ARM TWISTING DAY

Panic fall, Panic top and then back to the trend ie downwards was the order of the day..A traders paradise today , markets gave returns to both the bulls/bears though the day in the end again goes to bears..lets see how things pan out in the next few days till settlement..my advise to smaller traders is stay away till diwali ..enjoy the festival with family & friends and keep away..let the market settle down and then take your call, the supports given in the morning remain there till they are breached....cheers..

DOWN & OUT

Markets all over are bleeding including all commodities(GOLD GONE) today morning. So we will break the range at 3050 for the lower side with at least a target of 2850 as i had been mentioning last few days... A very strong support line now exists at app. 2750 levels(I never believed we will reach this level so fast), and if market takes support there, which i feel it should , we will retrace back to 3250 zone and any rally above this will take us to 3900 and above zone. Talking about higher levels today sounds nutty, but so was talking of 3600 & below at 6357..Take your call as per your holding capacity.. cheers

SOUTHWARDS AGAIN

Yesterday was move northwards, today southwards..the range 3050-3250 kissed both ways...Comeon guys .. whatsup??????? ...lets move on..next few days will be very crucial..if we break the lows , panic bottoms can be made as settlement approches..remember we are slipping from 1st day of this series ..trade carefully and with strict stoplosses as you can get whacked both ways in this madness...cheers

RANGE TRADING

When ever the end of a trend is coming , markets go in a range which slowly compresses till it breaks out on the reverse side...Is our markets behaving like that..as of today the range set is 3250-3050, yesterday we touched the top, we may go down and see where the supports are..there or above or below...next week or so will be defining moment , as next week settlement will clear many many positions and November series can start with its own direction & steam..The chart above is a daily chart and the speed line range is available for all to see..this should be a tentetive range of support / resistances for the time being..i have taken the complete fall from 4649 to 3046..one can buy dips from here on whenever one see lows holding..Take ur call...cheers

BULLS DAY

Markets moved spot on and stopped again around 3250 zone..break of which can take us over 3400. The footprint till now is higher highs/lows..lets see how the Europe/US markets fare..As Markets made higher lows , buy on dip worked well..savvy traders are getting trades both ways..not much movement in mid/small caps ...mainly action in index shares..hope people who had dipped in the shares 2 days back are in profits..will try to post some chart for levels tomorrow..do keep booking profits..take care cheers

RANGE SET

Markets world over are setting their own agendas /paths, ours for the time being is set in the range of 3050-3250 with a move of app. 200 points in case of break on anyside..the move of 100 points in nifty from the low in the late trade was heartening and what unfolds will have to be seen..Markets worldwise are in positive , so should we be today..watch the levels , trade cautiously..cheers

WHAT A DAY

WOW, is the word, roller coaster ride up/down the whole day , with the day going in favour of bulls in the end.. wait & watch for another day or so for any confirmation that this will be held..Looks like still every rise the funds are selling.... as at top of the day today even the selling was hard and severe..though halted at the low of yesterday..lets look at technicals in a day or so and trade with the trend for the next day or so ..right now the range is 3050-3250..any break either way should be at least 200 points..take care ..cheers..

SAMVAT TRADING

Last Diwali on Samvat trading the markets closed lower, nifty app.100 if i remember..this happened after many years & Many stalwarts wrote that this is not a good sign and the year ahead is going to be very tough. How right were they .... We are reaching another Samvat trading in a weeks time.. ..Is it time to look ahead, i think it is time now for people sitting on cash, to start picking up quality stocks which have weathered this huge deluge of selling well as they will be the ones who will bounce the hardest..Despite huge bearish outlook i feel the time is ripe for at least 50% investment ( this money may be locked for 6-12 months ).Take ur call, if Warren Buffet feels investors should come back, who are we to question that..Asia meanwhile is trading mix..Cheers..

MONTHLY CHARTS FOR GOLD

This is the Monthly gold chart which a friend of mine RAMA from chennai had been asking for..Hope my advise of no buy in gold helped..It corrected over $150. Right now its at 1st support and trending down..the chart is clear in the support/extensions targets, i feel with financial crunch all around, better to wait for some time for stabality to return to world financial markets to plan investment in gold..Hope this helps all friends visiting the blog..cheers

WILL THIS STOP

Volatality has assumed huge dimensions..Cboe Vix over 70 literally( unseen levels by many), the whole world financial order is disarry, best not to discuss any levels..Huge blood on the street, mouthwatering levels of stocks( yet only sellers )total capitulation, huge fear/abject surrender is the hallmark of last few weeks... R we reaching a end..LOOKS LIKE , for the time being..This is what Smart money/Angel investors look for and get in for the long haul again..Watch LEVELS around-- 3280 ---next week.. ..Above that sanity can return..3143 was the STRONG MONTHLY SUPPORT for so long , hope we close over that this month..3050-2995-2950 are good supports..HOPING FOR SANITY TO RETURN SOON,,,,,,,..Trade cautiously..cheers..

BLACK FRIDAY

It looks as if the stock markets performance script is well written for everyweekend , that there will be a good fall on friday so that any and everyone will spend the weekend in misery to find an ans. for this mad mayhem. This is a true picture of the Real bear market which has finally unfurled from 24th september..So today we finally wiped out all recovery again of yesterday and fell to lower depths.. this is whats been happening from the last few days/ weeks..All around all gains of the day were lost in the indexes world over.lets see over the weekend as to what to do now..think best is to not think about the markets and just chill...cheers..

WHAT NEXT

I had written a few days back that we have a target of 3140-50 or lower at 3100, where we may tend to take support, we met that target yesterday and bounced back smartly from there.. Severe capitulation has taken place in small/mid cap shares and many index stalwarts have also not been spared.If this low holds the correction which started from 4649 should come to a end. The next few days will tell, as any upmove does not survive more than 2-3 days. US markets last night gave a BULLISH reversal pattern( recovered all losses and closed in huge positive). Nearer home support of 3240-3225 should hold failing which we may retest the lows..Resistance to the upmove will be 3350-3500 for the time being..Our markets may trade flat to positive before it charts its course.Trade carefully ..cheers