SELL OFF AGAIN

Markets in India despite weak Asian cues ,hesitated and then took off and retested the tops made at 2771 zone, where selling came slowly but surely.The selling then was relentless till the end of day and markets went below the support levels of 2630.Overall if one noticed in the last 2 days the rise was on lower volumes and still the selling is on higher volumes. IT WAS A TRADERS PARADISE AGAIN , FOR PEOPLE FOLLOWING CHARTS/PATERNS (simple yahoo charts , links which are provided in my blog too would have enjoyed the ride )..What next, lets see it tomorrow morning ..take care ..Cheers.

ANY BOUNCE BACK FROM HERE ???????

We are at a very critical levels 2630 zone which is basically 61.8% of the total rise from 2252-3240. Point to be noted here that the WAVE B generally does a 61.8% correction of WAVE A,failing which it can then trail down to around 78%, failing which it can take us all the way to october 27th low or lower.Now in case we hold around these areas, get ready for a good ride up for the WAVE C. 3050 is the NF S/R still . trade accordingly..(Asia is in negative territory still)...lets watch the next day or so closely for some cues & trade accordingly..cheers