TRADERS DELIGHT

Markets are just spending time in a zone now of 4000-4200. Is it consolidating, could be, 0r waiting for some cues to take the plunge, which way, we will know in a day or so. best advise here for small traders is to stay away as undecided markets are normally the traps where many a investor get trapped..
A wise international investor once wrote that when hes really very itchy to take a specific directional trade , he normally pends his decision by 3 hrs/3 days/3 weeks and has found that the situation is quite different from what he had conjured in his mind..try it sometime,it may just surprise you into thinking afresh your trading stratergy.

Market settlement today is below last months settlement of 4214, which is not a good sign.Will wait & watch for cues to trade the direction from hereon..Massive positive news is required for move upwards otherwise we may end up in a range bound trade for some time.with downward bias....cheers.

STILL NO CUES

Markets world over still doing nothing. Very flat, range bound , seems looking to US for sense of direction..Are we showing weakness for a crash..Dont think so right now , as we would have drifted much lower yesterday in that case...Today being the settlement day some volatality is expected..Watch 4116 below and 4208 above . this could be the temporary range..Break either way will give direction..WATCH 4214 TODAY , it will be a important level for next months trade.

SIDEWAYS DAY

It was a classic traders market in a sideways day, where both the longs /shorts made money, so the flexible people could swing both ways with their charts and trade. The support /resistances still remain same. just for newbies and those who do not understand techs..markets today took support at 4115.8 which was 38% app. of the total rise..generally they can go down to 50 or 61.8% of the rise. For a bullish signal this level (3990) has to be held, Then the markets can resume its upmove again. the next 2-3 days are crucial for the news/settlement and major decisions to come..i will prefer a neutral stance with a trading bias . the cash levels taken at top can be maintained still so as to invest when ever the oppurtunity arrives. lets see how events unfold tonite in the US courtesy Mr Bernanke/Paulson the new messiahs for stock markets world over...cheers

LOOKING FOR CUES

US markets were in a ding dong mode going positive-negative alternatively, finally ending in the negative.The whole world was watching the biggest write down in history being debated at the US congress, lets see what happens to the proposals in the days to come.Asia is just about flat, Sun Outage also starts today till 8-10-08, thereby leaving us with truncated longer hrs in trading. All supports -resistances are same as given below in the last 2 days and now being last days of settlement, we can expect some swings too.. US senate has approved our Nuclear deal by 19-2 vote..lets see whether this can be approved by the congress soon despite being so busy with financial crisis debate right now. Trade carefully..cheers.

TRAVELLING DOWN

Despite weak opening , and subsequent recovery, markets showed weakness throughout the day, thus inviting long liquidation & shorting .we are at support of 4130 and the major indicators are in the zone of 50% level looking downwards..any further weakness from here can take us doen to 4050-4000 levels quickly. Trade cautiously as below 4050 will start the BEARS TERRITORY.All those who took my call of booking profits would appreciate the levels of prices today at close. we always can buy at supports again , take ur as per ur risk appetite...cheers.

SOFT MARKETS.

After a strong move of last week, markets witnessed routine profit booking yesterday..With crude/gold running up, US markets also went soft & started the correction of the stupendous ride up..Asia may follow also for a few days..NO BOTTOM FISHING TODAY. supports lie at 4170 and below at 4130. If weakness persists we may go to 4070 and 4020 zone. Do remember that markets can do upto 61.8 % retracement of the total upmove which is around 3990 area. happy trading ..cheers.

PROFIT TAKING

With market opening at 4303(below our september magic no. of 4304 remember), routine profit taking took place through out the day. Every dip was being bought as it seems many were short and are still trapped making 4200 a good support point for the day.some of the midcaps specially moser bayer really were flying all around and index majors just giving up gains slowly. hope all locked in their profits, as markets looked a bit overbought from morning..whats in store for the next few days, lets see tomorrow..enjoy the evening ..cheers.

ROAD AHEAD

The chart above is self explanatory. the Extension Targets shows resistance around 4330 and then 4450 & around zone..support at 4130. The DIRECTIONAL TREND INDEX is still negative despite the huge rise as this is a slower indicator and turns over a period of time. As Asian cues are flat, profit taking may be the call of the day , despite the fact that FII not only covered their shorts but went long too on friday. wait for a dip and see where we head in next 2-3 days, Bravehearts should surely take profit for their entry below. ..happy trading cheers.

WEEKEND MUSINGS..

Markets went thru a huge turmoil over the last week , from extreme pessimisiom to relief and optimism now...Many stalwarts /so called experts were bullish then bearish and have been propogating doomsday in times ahead specially last week causing much palpitation & pain to investors and semingly not allowing many to invest at such low levels and good prices, for a quick trading gains. if DII /FII can do it , why not a small investor- trader like us ,who has been living each day with fear..Mature musings are expected from all who take it on themselves to help fellow investors by their expertise and writings..AND THINGS LIKE SHORTING THE HUGE RISE, INCREDIBLE CALLS..where did they learn their technicals...these guys buying falls and shorting rises need to go back to the learning schools..IF NOTHING ELSE THEN JUST WAIT FOR THE TREND TO FINISH TO SHORT.. I Will request all my readers /visitors to be selective of what they read and absorb ,ALL THIS IS NOISE..Coming to the markets it seem to have made a DOUBLE BOTTOM ..at around 3800 levels..if this hold over the next few weeks we should head for 4649-5298 , they seem to be the swing targets from the monthly charts .. Strong support will be at 4170-4130 or maybe 4020-50 zone...BUY IN DIPS HAS BEEN WORKING IN THIS CRAZY MARKET for quite a while , SO ALWAYS KEEP SOME CAPITAL READY FOR BUYING IN THOSE crazy panic DAYS..ENJOY THE WEEKEND ..cheers
ps. next week sometime will look into the moving averages in daily charts for the market movement or targets.

NEXT WEEK TRADES... 22nd SEPT.

The week gone by closed higher than open theirby giving a bullish bias for next week. As markets have given a huge move from 3800, profit taking will come if we gap up again on monday..keep taking profits to remain healthy in this market, and buy on dips now. 4125-4150 range should be watched, any break of this will take markets down to retest the 4070-4020 to 3990-3960 zone again. The resistance will again be 4308-4328-4368-4398-4420.Trade carefully keeping in mind that this is the settlement week which can be as volatile as you can ask for..CHEERS

WHAT A RALLY ALL OVER

SHORTS had no place to hide in the globe..all the so called dooms day prophets just went on vacation today. The global bid to stem the rot/ Fed/EU/Japanese injection of billions of dollars, Ban on short selling specially of financial shares in England etc sent a strong message of the intension..DOW futures are positive again and will rock tonite..all losses of the week are recovered..in India our weekly close was higher than the open, giving a marginally bullish signal for a few days more.All brave hearts would have gained handsomely..though i was surprised some experts giving bearish /short calls or telling all not to buy anything as deeper is there, and instead of 35-3600 we are at app.4308, my target..where do we go next week, lets enjoy the profits and see about it during the weekend..cheers..

WHAT A RALLY ALL OVER

SHORTS had no place to hide in the globe..all the so called dooms day prophets just went on vacation today. The global bid to stem the rot/ Fed/EU/Japanese injection of billions of dollars, Ban on short selling specially of financial shares in England etc sent a strong message of the intension..DOW futures are positive again and will rock tonite..all losses of the week are recovered..in India our weekly close was higer than the open, giving a marginally bullish signal for a few days more.All brave hearts would have gained handsomely..though i was surprised some experts giving bearish /short calls or telling all not to buy anything as deeper is there, and instead of 35-3600 we are at app.4308, my target..where do we go next week, lets enjoy the profits and see about it during the weekend..cheers..

GALLOPING UP TODAY

Down yesterday, huge cover up to end positive, gap up today as US/Asia rocking..the roller coaster continues..we held 3790-3920-closed over 4016..Swing target is 4308 over 4116,As SGX is trading abover 42oo , we should move towards 4308 & higher as intra charts have turned so have daily...with supports at 4200-4070....BRAVEHEARTS , remember my call , ENJOY YOUR PROFITS TODAY. THE 8th day turning also worked..happy trading as there will be smiles all over after many days..happy trading & cheers

WHAT A ROLLER COASTER RIDE

Amazing but true, twice in this week the markets covered their huge falls in a surgical/swift manner.taking support at 3799( above last low of 3790), i had written in july in VFM Direct, It will be very difficult to break MAY'07 TOP OF 3774..still holding my friends despite huge bearish calls then and now too..crossed 3850 headed staright for 3920 & above it just went beserk to end the day at the top at 4043..(hope the chart posted in morning helped.)..Does this mean we are out of the woods..DEFINITELY NO, theres still lots of problems in the finacial world and lots of bear market, time wise....we ran up as it looked a bit too overdone and goverments world over also tried to intervene to stop this one way spiral. SOMEONE IS BUYING last 4 days in every fall, they should be institutional /big buyers/smart money who were in cash..MY CALL OF BRAVEHEARTS TO BUY would have paid very rich divedends. today and later too.thats markets my friends...enjoy the ride but be sensible and brave..WHAT NEXT..????will ponder tonite..do check tomorrow morning..cheers.

TSUNAMI AGAIN IN WALL STREET

Huge selling in US has followed up with Asian markets crashing too, supports will vanish again today. The above chart gives us a app. targets below where the markets should take support. 3850 zone ,3790( old low) and below 3680 then holds the key to this unprecedented deluge caused due to total collapse of US financial giants.. The DTI is still pointing strong sell lets see where it takes us..2 gone, 1 bailed out , 2 struggling, what more can be bad...all bad news has come in droves..CRUDE /GOLD moving up..A very heady cocktail for disaster.For brave hearts again, buying a little in extreme panics has always given dividends, as this is a real one way road so far..SELL/SELL/SELL, but trade with your risk appetite only as conditions are really bleak.REMEMBER TODAY WILL BE THE 8TH DAY OF CONTINUOUS FALL.cheers and best of luck .