INSIDE DAY

Market did what was expected started soft and gapped down and then drifted down to take support at 4420 levels...despite it trying 2-3 times to move up , selling came back..mid /small caps were flying all around and some of them like moser/hcc/mll/boi etc gave good returns..the market today made a INSIDE DAY, meaning it never crossed the high / low of yesterday..what does this mean...when ever the market will cross either high/low that MOVE can be big in the breakout direction, which should be followed by traders....so watch out for the break out friends...INDEX shares did nothing..is it DISTRIBUTION/CONSOLIDATION , time will tell..cheers

SOFT CLUES WORLDWIDE

The markets rallied smartly on tuesday but the world indexes did nothing much but showed reversals, great softness ,despite crude really cooling off..markets by and large are moving up on lower volumes..some profit taking can be expected as even SGX nifty is trading down..& all intra day indicators have gone into overbought territory due to the huge single day rally..see where the markets open down, where they consolidate and before taking your trading call..BUY IN DIPS AFTER CONSOLIDATION could be a policy ..supports are at 4450- 4410 or deeper at 4368 and resistance at 4572-86..& further ahead is 4628-4650..stop loss for longs should now be in range of 4368.
cheers & happy trading