HISTORY MADE TODAY

US today fullfilled the dream of one of the greatest AFRO AMERICANS , Dr Martin Luther King, whose famous words still ring a bell , I HAVE A DREAM........BY electing Mr Barak Obama, The next President of America...TRUE SPIRIT OF FREE ENTERPRISE AND DREAM FOR ALL....Hope this augurs a new dawn for the world order...
Coming back to our markets , they saluted the US results and as expected and written in the morning, slumped completely to selling pressure as the markets went really overbought today..touching my levels of 3085 and then almost 2950..will see how trade fares in the next coming days ..This will be litmus test for the market to trade ,test, consolidate and find a new bottom which will tell all where we are headed in the next few weeks and months ..dont be in a hurry to buy..Take care ..cheers..

EUPHORIC NOW

The S/R 0f 3050 NF got breached yesterday on the upperside and the follow up today seems to turn the world markets into the party mode and the main trend which was UP, continues today too (SGX nifty around 3300). Time to book all profits today & maybe stay on the sidelines for a day or so as now the Markets will go in overbought /stretch mode. Be careful at these levels and wait for good dips to go long again.Strong resistance zone will be 3300-3350 area. Support will be there now in range of 3085-2950 zone below which will be 2780-2850.. People who panicked and sold at bottom or did not buy would surely be rueing along with sell on rise guys.I had commented on a Friends blog (LEE'S) that FORTUNE FAVOURS THE BRAVE......CHEERS