WEAK DAY

Markets opened weak and after a few attempts seems to give up completely in late trade to retest recent lows, it can go lower from here if it quickly does not recover over 2700 and move up..2650 will be a area to watch below 2700 for some support, resistance now is at 2760-80 zone. buying was lacking completely in trade today..trade carefully the next few days..cheers..

THUMBS DOWN IN US.

US markets gave a thumbs down to Mr Obama start of Presidency..the event is over and gives freedom to markets to move on from here..There is no great/vicious melt down so far like october'08..the range still is 2700-2800-2900, Traders are trading this range on both sides..it has to be taken out either way soon and that move could be fast furious..be careful and play your positions with very strict stoplosses..donot average your loss making deals specially in nifty options..cheers..