SIDEWAYS DAY

It was a classic traders market in a sideways day, where both the longs /shorts made money, so the flexible people could swing both ways with their charts and trade. The support /resistances still remain same. just for newbies and those who do not understand techs..markets today took support at 4115.8 which was 38% app. of the total rise..generally they can go down to 50 or 61.8% of the rise. For a bullish signal this level (3990) has to be held, Then the markets can resume its upmove again. the next 2-3 days are crucial for the news/settlement and major decisions to come..i will prefer a neutral stance with a trading bias . the cash levels taken at top can be maintained still so as to invest when ever the oppurtunity arrives. lets see how events unfold tonite in the US courtesy Mr Bernanke/Paulson the new messiahs for stock markets world over...cheers

LOOKING FOR CUES

US markets were in a ding dong mode going positive-negative alternatively, finally ending in the negative.The whole world was watching the biggest write down in history being debated at the US congress, lets see what happens to the proposals in the days to come.Asia is just about flat, Sun Outage also starts today till 8-10-08, thereby leaving us with truncated longer hrs in trading. All supports -resistances are same as given below in the last 2 days and now being last days of settlement, we can expect some swings too.. US senate has approved our Nuclear deal by 19-2 vote..lets see whether this can be approved by the congress soon despite being so busy with financial crisis debate right now. Trade carefully..cheers.