MARKET REFLECTIONS

Markets took support as per the speed lines being shown last few days at 4200..opened and moved quickly above our magic no. 4304 , ( catching the short sellers/call writers by surprise) consolidated and moved on to take out 4335-45..closing at 4360..making a high of 4368 (which is higher than last swing of 4364) . this brings an end to august month,,where are we headed in september???????..lets MUSE over this during the weekend..enjoy the weekend , cheers.

DAILY TECHNICALS

Markets at supports..intraday charts show resistances at 4300-4413 and support at 4185 zone..as i said yesterday evening that care should be taken at 4200 levels ..DTI which cut downwards 2 days back still is below zero and pointing downwards..with global cues being positive markets should open in positive ..BREACH OF 4220 ( which is also 50% retracement of 3790-4650) may take the markets to 4160 zone which has to be held failing which as seen in the speed lines we will head to 3965 or lower levels..cheers & happy trading.