STRONG PULLBACK

Our markets carried forward the gains and the S/R levels of 3050 , again worked as a beaut. for going long. Markets closed trade at the top of the day , trapping the baby bears once again who were short on friday and went short again today.. The charts clearly were showng resistance at the zone of 3200-20 in nf & thats where the markets seem to be going today.. Short covering was witnessed at the last 1/2 hr trade as Europe was up and US futures over 200.Positive global cues may give a fillip to our markets tomorrow on opening . Do post all your profits again in stocks or NF longs.., wait then for the market to tell its mind...cheers

PS: MS DHONI and his team deserve a congrats& a pat for putting the massive aussie machinary down on the mat twice in this series.

POSITIVE CUES

As expected Asian markets are responding to US clues and trading in the positive territory. As suggested in the weekly technicals nifty will face resistance in the range of 3085 to 3240. Trade with the trend , till a reversal or weakness is in place.Book profits if any have been left out and wait for good dips to enter again for bounce up. Supports and Resistance levels have been clearly told in the weekly technicals. Cheers.