REVERSAL OF OVERSOLD

Markets were oversold deeply by close yesterday and just about unwinded its oversold positions by covering the whole fall of yesterday..Well this is what markets are all about..just about jerked all, forced losses ,gave margin calls , and then absorbed all the morning feed & moved back towards 4670 zone , crossing it with a little hiccup to move back towards 4750 zone above which 4850 zone will give resistance..OI in 4600 puts kept increasing as the day progressed telling us of the strong support of 4600 .. and to go long thereon for the day as Calls were dropping OI fast...Hope friends would have taken the cue in the morning and made money in any/everystock /Nifty today..we were oversold..cheers.

IS IT OVER ?????

Markets today may just about recover some of its very oversold positions with help of global cues..We have been breaking every Lower swing & not crossing the High swings it makes from the last 10 days..FII selling in delivery ,thereby implying selling on rise..Well it has to stop one of these days as 2100 points already shaved off the sensex( we are oversold )..4670 is now a resistance zone and 4510 a support zone...deeper still 4380-4400 around is where this may stop...investments in select shares , in quantities comfortable to you can be done in 4400-4600 zone for the pull back to at least 4800-4850 zone....enjoy the day..cheers..