TRAVELLING DOWN

Despite weak opening , and subsequent recovery, markets showed weakness throughout the day, thus inviting long liquidation & shorting .we are at support of 4130 and the major indicators are in the zone of 50% level looking downwards..any further weakness from here can take us doen to 4050-4000 levels quickly. Trade cautiously as below 4050 will start the BEARS TERRITORY.All those who took my call of booking profits would appreciate the levels of prices today at close. we always can buy at supports again , take ur as per ur risk appetite...cheers.

SOFT MARKETS.

After a strong move of last week, markets witnessed routine profit booking yesterday..With crude/gold running up, US markets also went soft & started the correction of the stupendous ride up..Asia may follow also for a few days..NO BOTTOM FISHING TODAY. supports lie at 4170 and below at 4130. If weakness persists we may go to 4070 and 4020 zone. Do remember that markets can do upto 61.8 % retracement of the total upmove which is around 3990 area. happy trading ..cheers.