SWINGING DAY

These last 2 days have been a great lesson for all who follow technicals & swings..Markets dont respect what experts say ..it respects levels ..Keen followers of technicals can sense these moves..BREACH OF 5050 started the slide yesterday for app. 250 points.. Coming to technicals despite deep correction due to momentum , markets respted the 4850 MONTHLY S/R , to close abt. 100 points above that..News/Events are just excuses for markets to unwind it heaviness & fatigue..For traders the (SELL ON RISE BUY ON DIP WORKS..)what next..lets look over during the weekend some charts to see where we are headed..enjoy the weekend cheers.

UNSETTLEMENT DAY

Yesterday became a UNSETTLEMENT DAY on a SETTLEMENT DAY..due to DUBAI factor as being flashed all over..The fact is 5130-40 zone had to be crossed and close above for markets to move ahead..The hesitancy was obvious & Yesterday it got the trigger to unwind , making many expert stalwarts propagating bullishness vanish..( they will hibernate now) The policy of sell the rise and buy the dips holds good once again..Yesterdays mayhem has done a structural damage to the market..It will take a few days to work out whether this halts around 4850 zone or goes deeper..A small bounce can be expected when we gap down today from the oversold zones..(avoid shorts here)..enjoy the day cheers.