28th MAY to !st JUNE

Markets are moving to make a base with the volatality shown in the last week.Tech savvy traders would have benefitted from the market swings ..Markets are at the crucial breakout zone of 4940-50 for 5100-5150 zone..Failure to sustain the break out may take us back towards 4820-4840 zone for supports..Watch the INR/USD for cues next week..strong rupee may propel the markets northwards..
4880 is the S/R zone for the next week with a minimum range of  4750-5050..enjoy your trades cheers

WEEK 21ST TO 25TH MAY

Marktets did the trick ,went spot on to thesupport of  4780 zone and did a classic dip & reversal pattern..Followers of this blog would have surely benefitted by buying in the panic bottom and the rise thereafter....Technicals help you remain with the trend. For all  who still have not entered the world of market technicals will request them to put your foot in.    So what next now ..??

If this reversal continues we should move towards 5000-5150 zone at least in the coming week..4870 seems to be the S/R of the coming week with a minimum  range 100-150 points ..enjoy your trades ..cheers

WEEK 14TH TO 18TH MAY

Markets are testing supports at 62 %  retracement of the dec-feb rise ..Failure to hold this takes us all the way to 78% retracement or 4780- 4800 zone..So what can be done..Well use this opportunity to get your foot in again into the markets..Buy your favorite shares for short to medium term in a SIP manner based on your risk appetite..Professinal traders should trade with the Technicals in the direction of the markets with strict stop losses..Good quality shares are available today at decent prices..keep some capital for a sudden capitulation day..4990 seems to be the S/R of the coming week with a range of 200 points either way..enjoy your trades cheers.

NIFTY CHART

click the chart for bigger view.

The above chart shows the resistance and support of the complete move..4950 seems to be the support below which it can be complete retest or break down of the total move up from december..cheers

WEEK 7TH TO 11TH MAY

Markets gave the classic jerk from resistance zones to break the lows and close below 5134 support..The rise from december lows is now being retraced to fill the correction..5080-4770 is the support zone of this correction..some amount of capitulation has taken place on friday..Buy in dips in a SIP way could be the way forward from here..5160 seems to be the S/R for the coming week with a range of 5020-5250 as a possible inner range ,+/- 100 points..Trade accordingly..cheers