SELLING GALORE

This was one of those days when the selling was in real slow motion and at the end of it just wondered , why i could not see it..Unwinding at such oversold levels does not augur well in short term..Can it slide down more , why not it can easily if there is more unwinding , but initiating shorts here wont be advisable..markets have to cross 2650 soon to give some support ..The weekend ahead and 2 holidays next week may keep many ppl away ..lets wait and watch what unfolds before stepping in..enjoy the rest of this day..cheers..

CAUTIOUS AHEAD

Markets just about held on to the 2600 levels yesterday too , any breach can take it 50 points quickly down ..range now is 2600-2700 (+/-) 50 points. Asia is not very encouraging right now , however still a bounce can be expected around these areas..trade light and in the direction..cheers.