WEEKEND DISCO

Markets did what it does best when FII's go in sell mode..huge selling every rise..as there is no one to support..a time comes when even DIi's also sit aside it seems and there is a free fall ..FII's had been selling stock futures for quite sometime & the first sign of weakness they unloaded the Weak index heavy weights, pushing nifty to those depths that no one was ready to wait for to buy..Panic days provide great opportunity to value pickers ..Hope select picking is being done by people who unwinded at top (I feel bad for guys who kept waiting for 5250-5300, never booked & also did not take 5080 as S/R)..Anyhow its a long weekend , will post some charts during the week to see where we are headed in coming days and weeks..cheers.

GLOBALLY POSITIVE

After 8 days of relentless selling some pull back is there today as expected..What a Mahurat trading...?????4900 zone will remain a strong resistance and 4700 zone the support ..Markets should consolidate in this zone , so trade the zone carefully till there is a breakout/down..trading may be subdued and some unwinding later may be seen due to the long weekend..enjoy the day cheers.

SETTLEMENT BLUE

What a end to october series..Despite calls of 5300 & above settlement ,we settle at monthly support of 4750...We are trying to take supports in this zone to bounce from oversold positions..Shorts should be avoided and select stocks which ppl. like can be bought for a small bounce back next week..Markets deeper support is in the range of 4670 ..resistance will be 4900 zone..from where the breakdown started.enjoy the day cheers.

HUGE JERK

Global markets in huge sell andour markets despite taking supports around 4800 yesterday for bounce back , we follow the global cues and head towards Monthly supports of 4750..The fact is many did not unwind at top waiting for 5300 settlement and those who did will start buying here as prices are much better than chasing tops..4900-30 zone now is a resistance zone as structural damage takes place with todays fall..lets hope this correction halts at 4700 around to consolidate ..Trade accordingly.cheers.

FINDING SUPPORTS.

Markets are moving in tandem with the global markets ,unwinding the excesses in the system.If ppl. visiting my blog remember I was warning from start of the month that sell on rise as this is looking stretched quite a bit..Hope the friends who booked at top can find real value again after the last 2 days of panic..( The speedline chart posted few days back also clearly gave the supports to play..)All sectors have corrected well and value pickers seemed to have nibbled in ...Monthly supports are 4750..lets see if that holds and markets consolidate for a while...to see the bounce back..enjoy the day cheers.

STILL SOFT

Markets yesterday broke the strong multi swing support of 4900-4930 zone to close much below it at weekly supports..Any bounce now will have big resistance in the above zone & markets will try to consolidate in the coming days in maybe 4750-4850..zone to make some move going forward.As there was huge unwinding in the of 4900 PUTS OI , the option sellers got caught on the wrong foot here..Well friends thats what the markets are..excesses done on both side..Cover your shorts today for a small bounce back in NIFTY..enjoy the day cheers..

SELL OUT

Markets seem to be looking for a cue to sell out its overbought positions..& RBI credit policy just about gave it the cue it was seeking to unwind..The fall was so furious that even the 4900 level did not hold..We touched the 50 SMA support zone after a fair bit of stay over it..As we are now oversold a small bounce can be expected anytime..supports are around 4800 and only cross of 4930 will we look towards upside..The weekly target below 5080 was 4854 which got touched today..enjoy the day cheers.

TESTING SUPPORTS

Global cues will make markets test suports in the zone of 4910-30..This has been a slow unwinding of longs w/o any panic or furor..5050 zone now appears to be a strong resistance and good supports again lie deeper at 4830 around zone..4900 should hold in close as HIGHEST OI is at 4900 puts..Trade accodingly ..enjoy the day cheers.

WEAKNESS GALORE...

Markets just about managed to creep up with difficulty and dropped dead much before the resistance zone of 5050-5070...????? We have closed at the low of the day..supports remain in the zone of 4900-4950..break of which can cause some serious unwinding of longs..lets see where this halts as the OI data still suggests settlement over 4900 and below 5000-5100..enjoy the day cheers.

WEEK AHEAD

Markets are stable in asia today morning..We should be looking at 5050 as S/R for this week with a range of 4850-5250. Settlement week will have its own volatality, so trade with care and in the direction..do look at the chart posted during the weekend for supports & turning points..enjoy the Week ..cheers.

MARKETS AHEAD

This is a RAINBOW CHART, showing us the various WAVES it made from its rise from 4350 zone to 5181 zone..The speedlines now show the tentative supports in this correction which has started, which shows that we can dip all the way to 4650 in case we start closing below 4950..Hope this helps all visiting my blog here for trades in the coming days..enjoy the weekend..cheers.
PS: We are looking to add HNI's , large daily traders who are looking for technical & trading advise, kindly do contact us in case you need our services.

TESTING STRENGTH

Markets despite the gap up , moved in a tight range to retest the bottoms ..the volatility was high .. The take away from todays trade is that yesterdays bottom was held and 5050-70 zone remains a strong resistance area..the range seems to be 4950-5050 for a breakout eitherway..will try to post some chart this weekend for path ahead..enjoy the weekend..cheers.

BOUNCE BACK

Yesterdays selling was a bit overdone and markets went in oversold zone. With help of global cues it opens up today to correct yesterdays excesses.5070-80 will be watch area for any move up..Failure to close above this zone , will not augur well for Bulls for resumption of upmove towards new highs of 2009...The OI range of options is still 4900-5100 range watch and trade the range till a decesive breakout takes place..cheers.

WHAT A JERK????

Well Well, the writing was on the wall in the last few days..and todays jerk really shook up the bulls /exuberance of over 5300 close in this settlement..The OI data which I have been mentioning here just about gave the warning of whats in store..as OI of 5100 calls went up yesterday( they were being written or sold) we moved straight towards our supports of 4950 area once we could not cross 5080 zone..( Remember the S/R of this week..) 4980 is a support zone below which is 4920..resistance over 5050 will be 5080 again...The lesson here is Always good to be in CASH at tops and buy in a day of MAYHEM.. like today then you are always safe & start with a edge over others , rather than chasing markets when they are at top for the elusive tops....enjoy the day cheers

SELLING MODE

Markets all over are in Sell mode today morning..Despite huge calls of targets of 5300 + , markets thought it wise to unwind as it found no cues to go HIGHER... Good supports lie at 4900 where there is huge PUTs OI and minor at 5000 zone..5100 calls have seen a big built up in OI last 2 days..indicating traders find this as resistance zone for the time being..( PLS. refer to the last few days posts on OI & market techs.)People in cash can find appropiate levels where markets stabalises to enter for a bounce back ..enjoy the day cheers.

PROFIT TAKING

I have been writing here almost everyday that markets are taking profits and distribution is going on..as no new cues are there for a upmove....Hope ppl. did take profits to highs now that we are soft and can again enter at lower levels..5080 below we are closing..this has to be retraced fast otherwise bigger correction can be there....Markets should take support in the zone of 5020-30, below which we have strong supports at 4980..for a move back..enjoy the day cheers.

SOFT ALL OVER

Markets are soft all over, not many cues helping to move forward..watch 5080 in close for any weakness..The selling & distribution is visible from the last few days as every rise is being sold into..4900 still holds a good support for this settlement as maximum OI of puts is there..5100-5300 Calls almost carrying same OI..Thus settlement could be in range of 4900-5200 as per stats of today..Will review this early next week..enjoy the day cheers.

TIRED MARKETS

Markets are not able to sustain the initial gains & are breaking down quite easily to supports..A few more days like this will encourage the Bears to break in the tired bulls..Profit taking and rotation is visible ..though interest still remains in small /mid cap stocks..Watch 5100 levels for any reversal signs as markets somehow seem to be holding here.seems the range could be 5020-5220 going ahead..enjoy the day cheers.

WEEK AHEAD

Markets globally are positive but do not look to be ready for any runaway rally, The area to watch next weekis 5076 for S/R...The range could be 4850-5300..Profits should be booked as we move up and trading positions liquidated at EOD by deft traders so as not to be caught on the wrong foot next day .Trade lighter & quicker with strict Sl..enjoy the day cheers

HAPPY SAMVAT 2066

I would like to wish all visitors to my blog a very happy prosperous coming year. Last one year has been amazing specially keeping in view where we were last Diwali..For coming days 4900-4920( Highest OI in put options) is the Big support zone for any sudden reversal ,close below which will trouble the BULLS....The tentative target of this market could be the ISLAND AREA ...of 5250-5300, which may again become a good resistance zone..ENJOY THE FESTIVAL & THE DAY

WISHING ALL A VERY HAPPYDEEPAWALI

Markets have stayed above 5100 for the 3rd day in a row..Seems Bears are unable to bring it below 5100 levels for the time being and we may be in to test higher levels in mahurat trading and coming days..Enough said /written /talked on markets ..lets close this SAMVAT on a positive note..once again wishing all a very happy prosperous DEEPAWALI..enjoy the festival with family & friends.

WHAT NEXT ?????

Let us today look at the technical side of the markets..Last few days NF OI gets added during the course of the trading day to be sold or profit booked at EOD..( meaning traders not ready to carry overnight longs)The 4900 levels has the highest strike price of OI in options in 4900 puts..( traders seem to have booked profits in 4700 mainly and also 4800 puts shorts in the last few days )..this means market unlikely to break 4900 levels in a hurry in this series. 5100-5300 calls have increased their OI , meaning that max. this rally can touch 5300 , Action is on at 5100 strike price now..so maybe below 5100 we retest 5000 & above 5100 go towards 5200..Trade this range for the time being before global cues/events/profits etc etc catch up with this rally of 7 months..hope this helps and clears doubts of many who have been enquiring from me of the trade ahead..enjoy the day cheers..

MARKET TECHNICALS

Markets does move on technicals got proved very well today..Despite great global cues and gap up, the markets corrected immedietly as we were tad overbought yesterday & with todays open , the opportunity window for shorts opened & then at the support swing..the longs could be initiated ..( hope people visiting here would have seen the morning advise)Sharp Intraday traders would have seen this in their charts and played accordingly..Those who could not see it should redo their homework on technicals..so what next...we dropped to and below 5095 and are over it at close..Still watch that zone for ur trades..bullish above and bearish below..enjoy the day cheers.

GLOBAL PARTY

Global markets specially US/Europe are partying right now..nothing much to add..see the levels given yesterday & try to follow it(5095 watch area)..MY ADVISE..dont chase the markets...But book profits where so ever they are.. enjoy the day cheers

HIGH CLOSE

Markets closed over the 52 week previous highs...Shorts would be worried at close today on the move going forward..Despite of high close, I would be cautious and will be alert on any sudden drop on the way going up.Global cues can push markets suddenly towards 5250-5300..watch 5095 for any signs of weakness in days ahead..5150-70 could be a reaction zone ..enjoy the day cheers.

TESTING HIGHS AGAIN

We should be testing old highs on open as SGX NIFTY suggests..so range of 4920-5110 gets completed again on the higher end..Caution again at heights..Best foot forward is wait and see where it holds supports to guess the next move of the markets..Cross & close over 5110 could take us all the way to 5300 or above..break below 5000 will augur weakness all the way 4900 or below.. the range is set and the move could be quick..trade with strict sl so as not to be on wrong side of the trade..enjoy the day cheers.

SUPPORTS HELD

Markets held on to the 4900 zone for supports( positive divergence in intraday charts on friday) as I had been writing for a bounce back straight towards the old highs over the S/R of 4980 of this week..Hope ppl. visiting here would have used todays given levels to play in longs in NIFTY & STOCKS for good gains today..WHAT NEXT ????..well to start with the Shorters are badly trapped and puts butchered..If Market are able to hold 5000-5020 , A breakout over 5110 can be expected too in near future..enjoy the holiday, cheers..

THE WEEK AHEAD

Markets closed WEAK below watch zone of 4970.Break next week below 4920 in close will not augur well in the short term as( 4900 puts shorts get unwinded then )the range of the markets could be 4830-5140 in the coming week with 4980 as S/R zone. Keep your trades light till a bottom is in place.enjoy the weekend.. cheers.

CONSOLIDATING MARKETS

Markets are consolidating in 4900-5000 zone & as OI of the puts here is increasing suggesting writing of puts which in turn means supports are good in this zone...short covering took place in calls 5000-5200 yesterday, suggesting a bullish up move in the coming days..4970-5050 is a small range ..break of which can test 5110-4920 again..trade accordingly..cheers.

ANOTHER JERKING DAY

Another day of wild swings and jerks Non Technical traders must be having a harrowing day today.. ..All gains given up twice today....Seems markets still are 5000 +/- trade bullish/ bearish..support should be there at 4970 levels below which we go to 4920..the old lows..5050 is becoming a problem area for markets to cross now..lets see how global markets trade..enjoy the day cheers.

RIL BONUS

Morning trade will have the influence of the RIL bonus declared after market hrs..shorters in RIL may have a harrowing time..5000 is a watch zone..bullish above this and bearish below that..range is 4910-5110..lets see how it moves in days ahead as volatality will crush traders with SL's getting hit both ways..trade small & in the direction with care in coming days..cheers

PROFIT TAKING AGAIN

Markets remain in volatile mode...seems smart money enjoying the premium of sold of options in 4900-5100 range by keeping markets in the same range or smaller.. Markets reacted from the levels mentioned in my morning post of 5090 and took supports below 4990 range..Range traders could take trades..Post market announcement of RIL bonus will have its effect tomorrow on opening..lets see how trades go..enjoy the day cheers.

POSITIVE DAY

Markets after the huge 2 way move of yesterday may open a bit up and then just about consolidate for further moves..5090-5110 is the watch area on highs and 5000-5005 area is support zone..ALL LONGS should be avoided below 4990 from now on..enjoy the day cheers.

HUGE JERKING DAY

Markets have been waiting to jerk weak hands in the last few days..hope people visiting my blog would have used the 4990 to watch for any weakness area as their SL.. for a target range of 4910-30 support..Anyhow a great swing trading day today ..watch 5050 above which the old highs of 5110 for any bullish moves..Volumes were huge in the 2 way jerking days..CHEERS

MARKETS AHEAD.

Markets have taken support around 4990-5000 zone for the time being..Only above 5050 will it try to take out the old top..Watch 4990 closely for any weakness ahead..trade accordingly..cheers

MIXED DAY

Markets gapped down & then just about retraced all the losses and then came down to retest the lows again..The next few days trade will tell where we are headed ..4900-4930 zone should be watched in coming days and if we remain over 5030 we may retest or cross the recent tops ..trade accordingly ..cheers.

SOFT CUES

Markets will gap down today as SGX NIFTY shows..shorts should be booked and as when markets take support some longs can be initiated ..Supports lie deep at 4900 around..It will be interesting to see the coming days as breach of 4900 zone in close can take us deep down..and on cross of old highs to maybe over 5200..enjoy the trade..cheers..

FLAT DAY

Markets did just about nothing and the discount in the NF was still there at close..( not a good sign going ahead..)..Nifty Spot touched a technical target of 5110 in open.., now only cross close above this will augur bullishness going ahead , failing which below 5080 zone we may sell off to seek supports down below...DONT THINK MUCH about the Markets ,, it wont go anywhere.., enjoy the long weekend..cheers.

MONTHLY TECHNICALS

The month of OCTOBER starts on a high note..highest for this year...So whats this months range and expectation..4900 is S/R of this month...The range could be 5250-4750 inner range..The outer range much higher..Trade the range to start with & then see how global cues show their hands..enjoy the day & the holidays ahead..cheers..