SUPPORTS TESTED

Supports were tested at 2750-2700 zone today after the markets slipped in the opening . Smart recovery was made in last hr. of trade making markets go for a while went into positive territory, then came the profit taking in the end by intraday players.It seems at lower levels participants are not ready to press shorts and are just covering their short positions of the last few days. Today was the 8th day from the top ie 3240, so shorts were cautious and covered at the first sign of pull back.Positive overseas cues will take us to at least 2860 zone cross of which only we can think of somekind of rally till settlement. CHEERS.

SOFT MARKETS

Markets in Asia are just about doing nothing and are flat to negative. Levels have been given for next week, in case markets do not sucumb to pressure in the next few days ,it may go to retest the recent tops made at 3254-3240, trade accordingly...Cheers.