WEEK 27TH TO 31ST MAY

Caution was advised last week despite rise, due to divergence /non movement of many many stocks???? Buy in Dips only also advised ...?? Hope people visiting this blog would have observed caution and they would have booked profits..Technical traders got the perfect breakdown  hurling towards the 6030-40 zone and global cues gave the push lower towards 5930.....Now what?? This is a 300 odd point wave and could be more or same..We will get the retracement from this oversold intra day charts..6050-6080 is a  strong resistance zone now ..any move above 6106 will take the markets way ahead to the recent top..The new leg down then unfolds and we will track it accordingly..Any close below 5930 will mean the the leg of 5480-6239 is being corrected now...5960-70 is watch area for the start of the week..Trade accordingly..cheers

WEEK 20TH TO 24TH MAY

I have been writing in this blog for the last few weeks that we are heading towards 6200 zone plus..Markets have touched the monthly targets of 6200 plus in this rally..Running markets have no Resistances as falling have no supports..So what are we looking at now????In the previous high fall one of the monthly highs swings was 6209 which we seem to have touched..Though weekly monthly EW targets project 6300-6500 a sudden sharp dip could be round the corner..Wait for a dip to get in..6120-30 seems to be the support of the market below which the zone of 6030-50 will provide creditable support so long as we keep making higher highs and higher lows.. Technical traders should keep trading with their technicals as volatality will give them good moves both ways....Many Many stocks still are lagging behind and daily RSI is showing a negative divergence..caution is advised..enjoy the trades cheers..

WEEK 13TH TO 17TH MAY

Markets crossed 6066  weekly targets to head towards 6200 or above targets now..Index is  moving up but many shares are not performing suggests a non broad based rally..People will have to wait for good dips to get into the Marketspecially in their select stocks.. and in the meanwhile just trade the index or select index stocks on technicals..Targets for index at 6200-6300 plus in this rally up above 6152 and supports below 6025 at 5950 zone..Trade accordingly..cheers

WEEK 6TH TO 10 MAY

Last week unfolded the breakout of the 5990 retracement to push us into the 6120-5480 (NF) retracements..Markets have been making higher Highs /Lows..A rise above 6066 can open the gates all the way to 6200 and above in the coming days..Below 5990 we will be suspect for corrections to this upmove..Keep strict SL of fridays low on your longs for any ride up ..failure /breakdown can take us all the way to 5750-80 zone sometime this month..cheers