SIDEWAYS DAY

It was a classic traders market in a sideways day, where both the longs /shorts made money, so the flexible people could swing both ways with their charts and trade. The support /resistances still remain same. just for newbies and those who do not understand techs..markets today took support at 4115.8 which was 38% app. of the total rise..generally they can go down to 50 or 61.8% of the rise. For a bullish signal this level (3990) has to be held, Then the markets can resume its upmove again. the next 2-3 days are crucial for the news/settlement and major decisions to come..i will prefer a neutral stance with a trading bias . the cash levels taken at top can be maintained still so as to invest when ever the oppurtunity arrives. lets see how events unfold tonite in the US courtesy Mr Bernanke/Paulson the new messiahs for stock markets world over...cheers