BLOOD BATH AGAIN

Blood bath again today, every market in the world capitulised on financial fears..where is the base..we should be touching base at least for the time being some where around these levels in zone of 3650-3600-3550-3500..( have posted charts also for this few days back)many scrips are available at mouth watering prices and people in cash would have definitely bought for a trading bounce.. Some world order will be surely there and the retracements also will be fast & furious as is typical of the Bear markets. The above chart shows the channel we are following , support at app.3550 and the resistance on reversal at 3800-4050. Hope this helps..( do not sell off in panic)Trade accordingly...cheers

SUPPORT AROUND 3650

Nifty moved from 920, may 03 to 6357, jan'08..50 % retracement is 3644 area..markets came and stopped here..Despite holding out 3774 for 3 months , this level finally held. today was a capitulation day when specially the index shares tumbled and margin calls also played out. Hold on to your guns ..dont panic..and sell your stocks..stay in the sideslines..A bounce will come..these are great price levels and brave hearts can do some blue chip share picking..cheers.

WEAKNESS GALORE

Asia is soft after the US melt down, financial problems galore and it seems more agony in store. Only above 3774 will there be some semblence.Market will be weak below 3730. The first 1st hr of trade and closing will be important . The Andrew Pitchfork tells all for this range of of the nifty, as the sentiment is bad, best stratergy for a day or two will be to stay out and let market decide . Marekts will be oversoold with todays opening but can remain oversold to for more time so..WAIT FOR DUST TO SETTLE. ..cheers.