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.