Markets have showed huge weakness from the settlement week after hitting the 5800 mark..Markets after closing below the 200 DMA will have to find its supports somewhere as we drift slowly into oversold zone again in daily weekly..5550 is the S/R for this week with a wide wildish range of 5400 to 5700..World events etc too are driving this down trend ..A technical bounce back will be due this week.. FNO traders should wait for a positive day before dipping in..you can pick choose small qty. your select stocks in this carnage and see from there..
STOCKS : Anything of index will be a good buy.
Happy Trading
Monday, January 31, 2011
Saturday, January 22, 2011
WEEK 24TH TO 28TH JAN
Markets moved in a tight band bothways last week with voilent thrusts..Technical traders would have captured these intraday moves and made good profits.
This week too the techs seems to suggest the same band..5550-5850 , 5700 is the WATCH ZONE a range of 150 points either way..Being a truncated settlement week be a bit careful in OPTION trading..The bias could be on the long side only if we trade over 5700..as low was protected last week..Trade accordingly..
STOCKS: Reality/Capital goods seems a tad oversold ..Watch them in this week.(PSU BANKS moved well last week)
This week too the techs seems to suggest the same band..5550-5850 , 5700 is the WATCH ZONE a range of 150 points either way..Being a truncated settlement week be a bit careful in OPTION trading..The bias could be on the long side only if we trade over 5700..as low was protected last week..Trade accordingly..
STOCKS: Reality/Capital goods seems a tad oversold ..Watch them in this week.(PSU BANKS moved well last week)
Saturday, January 15, 2011
WEEK AHEAD 17 TO 21ST
Markets have been quite shaky from the start of this year. The run up from March '09 has been quite spectacular and many participants just could not praticipate due to fear etc..Markets are doing their regular correction and will have to find a base in coming days weeks..For this year 5200 will be a area to watch, below which the markets could give a slide down..Cross of 6350 could take the markets to 6700 plus zone.I will not be commenting here on any news or noise about the markets but write about pure technicals of the markets..
Coming to next weeks technicals..any semblence of a upmove markets have to sustain over 5700 and it will face resistance in 5850 zone..slide below 5600 could take it to 5500-5530 zone..TRADE ACCORDING
STOCK : Look at some PSU BANKS for investment week.
happy trading
Coming to next weeks technicals..any semblence of a upmove markets have to sustain over 5700 and it will face resistance in 5850 zone..slide below 5600 could take it to 5500-5530 zone..TRADE ACCORDING
STOCK : Look at some PSU BANKS for investment week.
happy trading
Tuesday, January 11, 2011
WEEKLY TECHNICALS
This is to inform all friends visiting the blog that starting this weekend will be posting weekly technicals ..Will try to give a commentary on the week gone by and whats in store ahead in the coming week..Do check from this weekend..cheers
Subscribe to:
Posts (Atom)