RESILIANT MARKETS

Markets just reacted to the world markets in the opening, fell hard , took support around 2574 area i wrote in the morning ..surprised all ( into shorts ) & charted their own course thereon after consolidation for some time and tried to reach yesterdays close..Now what is market telling us?????? ..right now it closed squarely over the strong support of 2630-40 zone..again we have to watch this area for any weakness and look back to 2690-2750-2832 now for any resistances. trade with the trend ...cheers..

RESISTANCE FALL

Right from the word go yesterday market failed to cross 2850, slipped hard in late trade and will sell off today as the whole world indexes are bleeding. All Supports will vanish today..watch 2574 & again 2524 , though the sellout says maybe this support maynot hold this time and we may go all the way down to 2300 & below if we break and close below 2500 anytime in the next few days. As advised be careful of entering longs in a hurry, let the volitality settle, remember there is no bottom for a falling market.....Cheers.