RESILIANT MARKETS

Despite bad US clues , markets in Asia , including BSE/NSE rallied strongly, absorbing all sell calls of the day. NS 2850 held and strong hands, maybe new ones , pressed the basket buying route as it was a secular run for almost all stocks.Will watch 3050 NF & 3085 NS for next week..Bottoms still have to be retested so dont be complacent in the coming week or so, be traders and trade light & be fleetfooted..Markets are rewarding the traders daily.Catch the trend w/o bias ..enjoy the weekend ..cheers..

WEAKNESS OR CONSOLIDATION

Nifty dropped froma top of 3240( A strong resistance zone) and is consolidating around 2850 area, support below is 2780-2700-2630 and resistance to any upmove will again be 3050. Shorts should be avoided over 3050 & any longs if initiated around here should be traded with strict stoplosses as supports are way down.Selected stock pickings can be done on the way down for a trading bounce..enjoy the trade....cheers