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.