BULLS/CALFs ALL BLOODIED

No place to hide today , nifty plunged breaking all supports of 4160-4070 in opening and then did take support at the 3970-90 zone as mentioned by me in the morning..and made a smart recovery thereon when everything looked so gloomy ( even rumours of 10% lower circuit) LOLz..looked like big short covering there in a hurry as they were in huge profits and such a deep fall came after ages.. REMEMBER , had warned the Bears are just lurking around and will pounce hard on any weakness. All friends who took my advise of NO BOTTOM FISHING would have fished well today for very quick gains and some delivery deals..Lehman provided the clue and the party started.We have 3920 zone as a very strong support area, deeper down it is 3845 , which should give respite to the bulls. lets see how tonite unfolds in the US , what with Lehman and markets in a spiral down..its going to be interesting to see what action fed. takes.. THE MARKET TODAY REWARDED BOTH THE BRAVE BEARS/ BULLS. The good news today was CRUDE went BELOW $97.. lets relax and enjoy the profits today, guys the day was a traders dream...CHEERS.

NIGHTMARE DURING DAY

Financials Financials & Financials are driving this market for so long . crude below $100, prices at good values etc not helping the sentiment..and the biggest blower from last few weeks LEHMAN BROS finally may be going down if no suitor is there, remember this is the forth largest investor banker in the world..negating the sentiments all over the globe..most markets in Asia are closed and our indian friends generally do big moves on such days..so where we headed..4160-70 was a good support line for so long will be breached in opening as per SGX nifty . NF has strong support deeper down at the 3970-90 from where the bounce back can be expected soon. I had been asking all not to do any BOTTOM FISHING, Hope this has helped all investors and traders now can find very good value for taking trading calls afters today gap down. with todays fall the DAILY / WEEKLY CHARTS may move into oversold zone soon , so caution should be used for shorts at lower levels as a relief rally could be in store . and if a suitor is there for Lehman..today ?????????...the scene will change suddenly/dramatically.....also pls. note that the chart i posted below yesterday 4500 is the mean average of this market and somhow its spending a lot of time in this zone..trade well ..cheers.