WEAKNESS GALORE

Markets opened weak, recovered and then gave up all gains to hit lows at 4200. Asia/Europe was trading positive..we are at critical support at 4200 break of which can take it straight to 4160 & 4110. Todays main culprits if any are RIL & INFY(vertically down and then a general sell out as traders pressed the SHORT buttonsin late trade. Those who held back their purchases or did not do bottom fishing may find good value next week as markets despite dip is really oversold and can give a good bounce back too. be careful of shorts specially if we open DOWN..wait for a corrective rise before planning any further shorts ..Seems financial problems world over are still raising their ugly heads and institutional buyers are unloading their profitable positions all over, equity or commodityor anything , to take care of pressing needs or preparing for future skeletons which still are in the closet..enjoy your weekend..cheers

MARKETS STILL RANGE BOUND

Markets seem still to be range bound despite the crude /commodities being so soft and hitting lows in months , the range being 4250-4550..a significant break is reqd. at this range to signify the direction. This in fact is becoming a trading market , buy low/sell high .as intraday indicators went oversold again , a bounce is expected today, ( sgx nifty already up) till 4328-4368-4398 levels. support depper is in range of 4201-4220. As this is last trading day of the week not much activity is expected today..keep trading and be light footed..you will get days when you will get good prices for your favorite stocks, buy & hold , but always keep something stored away for that sudden deep fall which gives mouthwatering prices for long term investments..happy trading..cheers.