MONTHLY TECHNICALS

S / R (stop & reverse) for the MONTH OF OCTOBER is 4100 The trading range should be between 3600-4400. We are again and again testing the 3800 levels , failure to hold this level in close can take us to 3650 or 3554 area( low made in july 2007 ). A few closes over 3944 will help stabalise the bulls nerves & with a LITTLE help from global cues can try to move ahead towards 4100..caution is needed around this area as many trapped bulls will be liquidating .. Above 4100-4150 , a bullish move can be expected...happy navratras to all..Jai mata di.

HORSES FOR COURSES

Indian markets today have proved who the HORSES are ..and we lead the recovery in a royal manner.. the Bears had to run to cover their shorts .... My call givenin the morning for bravehearts for buying anything in todays dip , paid good rich dividends (above10-20% in many scrips). NF has moved intraday close to 200 points from days lows . Hope friends visiting the blog would have utilised this call and made profits.in intraday. . there was a huge talk of complete capitulation today, after US bill /markets failure.So what happened ,One everything was quite overdone, Why we recovered in minutes back to 3800 after opening..As mentioned before also 3774 is a huge support and despite the worst news in years in the financial circles/US markets crashing so massively.Smart money it seems still consider 3800 as a strong base to lend buying support..THIRD TIME BOUNCE.. from there ,The level held and within ½ hr we had drifted away from it..heading towards the 800 SMA at 3944 , from where we broke down yesterday when we went lower & capitulation started. Close over 3944 is important for a few days for markets to move ahead..Will we go to retest lows again and go further down to 3600 or lower , yes we can , till we don’t cross over 4050 and close above it for a few days we are not out of the woods. Todays day (open low close high).goes in favour of bulls . PIERCING LINE a Bullish candle was formed Do remember that these are volatile days and profits need to be locked in daily and the next day taken as it comes…lets enjoy todays gains.

.THE BEST TRADES THESE DAYS ARE THE ONES WHERE THE PROFITS HAVE BEEN TAKEN FROM THE TABLE.. cheers.

BAILOUT FIASCO

The unthinkable happened, BAILOUT FAILED, plunging the financial world to pits..we too will follow suit , break lows again(3774 will break) and see where we can find support. such frenzy days always have a flipside. STOCKS AVAILABLE AT REAL GOOD VALUES..Again this is for bravehearts,(specially not for small time guys playing an odd mini nifty here and there) & for people having deeper pockets ,time your purchase ,wait & do play for the bounce , fact is whenever panic sales happen strong hands buy. A solution will also come for this bailout in the next few days and as the markets came down , they will go up also..on a lighter note it seems my weekend musings is really ruffling a few people Lolz,do try to read the complete messages in the blog before commenting..BTW crude is below .. $96 ....take your call