A VERY SAD DAY.

This is one of the SADDEST DAYS i have witnessed in many years when through out the night we saw our countrys financial capital being held hostage so ruthlessly by a bunch of terrorists. My Heart goes out for all the brave Maharastra policeman, defence/ security personnal and innocent employess/guests /bystanders killed or maimed by this incidence. I hope our central goverment & specially our politicians rise above petty squabbles to finally do something for this country , specially against terrorism. JAI HIND.

WHAT A DAY

Markets never broke the 2630 levels given b4, tested the base and then moved straight over the pivot 2690 for a run for the resistance ie 2750-60 zone..HOWS THAT FOR A RANGE CALL...The bias seemed distinctly negative today to many , and they went short , got trapped and had to pull the STOP LOSSES in the end ..longer timeframe in intra day charts was warning from the morning of a move up, despite negative cues,thats why had cautioned friends visiting my blog to be careful of this volatality and that will damage the mind and pocket...anyhow good profits again for intraday traders(a few of my friends included , trading with me today) following technicals/ charts..lets see , tomorrow again is a new day..cheers.

UNDECIDED

Markets are undecided about their direction, due to lower participation near resistances...& also still not convinced about leaving the lows behind...The pivot for today is 2690 zone with 2580-90 as a support zone and 2750-60 as resistance zone ..Keep your trades on lighter side till markets make a decesive move.We are into the last 2 days of settlement and can witness swings , so trade intraday carefully so as not to be whipsawed either way.,,happy trading ..cheers.

ROLLER COASTER RIDE

Markets opened with a gap up and immedietly started selling , held on for a while and then as the day high was not cleared for over 2 hrs , it just gave way, loosing all the days gain to go much below yesterdays close . ITS A CLASSIC REVERSAL DAY TODAY. Markets below 2750 came teasingly close to my support of 2630, and it came there so easily that it is a tad difficult to accept .. Well weakness is verey evident and lets look at the charts again to make a semblence of what happened today & whats in store from here.. Hope all took profits of the longs or had TSL today on their longs...CHEERS.

GLOBALLY POSITIVE

It seems the bailout package of CITI , announced yesterday provided the cue for the upward rally.Asia is following US news again.Technically speaking I had written that we should not close below 2524 & we did not and moved up to over 2630 quickly from there. The target always was 2750 -2860-70 . People who are long in FNO can start boooking around the resistance zone or keep strict TSL. KEEP close below 2630 as TSL for all longs for times ahead. Short Term indicators are showing positive cues, in case we are able to consolidate and keep making higher lows the bear market rally is in place. lets watch the next few days for the cues.enjoy the trade today ..cheers

WHAT A DAY

The markets became volatile right from the word go and traded in the range written in the blog today.....2750-2630,,,, hope all enjoyed todays call and again it proved to be a traders day.., Some amount of help is reqd. to push the markets to 2860 and above zone..Otherwise it may just start drifting downwards again..Lets hope some cues come from overseas markets ..weekly range pls. keep in mind for trading...take care cheers ..

TRADING RANGE

Looking at the chart above we are looking at a range of 2750-2870 and supports at 2630 zone.The TSI has turned positive but needs to cross zero to gather strength for any upmove..( the weekly range already given below ).The melt down over the weekend of CITI GROUP is having its effects on the Asian trade today,CITI incidently has good holdings in equities all around including India.Hope all turns out well, otherwise another round of liquidation can start in Asia etc.Trade with caution, as this week has lots of news coming, hopefully positive ,trade with the trend..Cheers.

INVESTTIMES ARTICLE..(NOV issue)

The article in BSL's INVESTTIMES in the november issue..the link below.page 52
http://www.birlasunlife.com/distributiontsetIMS/new/Investime_Nov_08.pdf
Hope all enjoy it ..cheers..

THE WEEK NEXT WEEK.

Asia up, India well up, US , despite weakness proppped up...Did i write buy select stocks, and indicators severely oversold and 7 days of fall....& we are just there ..( just recaps from last 2 days views) of hope my views are helping visitors to my blog become adept traders as thats what markets wants us to be for some time to come. The target clearly was 2750 , we just about reached there, and if we hold 2680-60 and deeper 2630-40, we can surely head for 2750 , and then to 2860 range, remember that gr8 support area which will now be the big resistance to cross....in case of move over 2860 maybe we head for targets like 2920-2990 zone. The broader range for this coming week is 2500-2900..Trade accordingly...enjoy the weekend ..cheers.

SURPRISE SURPRISE

Despite huge bearish calls by many experts specially after the US markets crashed of nifty falling to sub 2450 range and below , did not help their cause as markets did the unthinkable , moved up from morning trade only and despite heavy sell off regained all lost ground to move over 2700.., making them hopefullyto wonder as to what happened.Technically , markets had unfolded todays move yesterday and i had pointed out that the late cross done by the market of days high and severe oversold position and today being 8th day of the downtrend,..the move up over the pivot will be towards 2750...We surely are heading there..Hope all visiting here enjoyed the call..cheers.

PS again a gr8 day for traders with unbiased mind and following the trends.App. 400 points of NIFTY.

WEEKEND BLUES

Finally the US markets after lots of wait broke their lows yesterday. Asia markets are weak and CRUDE ........ (god knows where it will halt, good for the world.)..Now can we say that lows of 2008 are already made for the whole world & the BEAR RALLY can resume.Lets watch tonite & start of next week for the cues...I think we are almost there.Next few days will confirm this or if we slide further to test the october lows.., watch 2470 zone for support today & we will complete 8 straight days of fall today. .. 2563 is todays PIVOT for the day and cross of 2582 can take us to 2750 zone...Trade accordingly...cheers
PS: will look at some charts during the weekend for more cues and targets etc.

FINDING SUPPORTS OR HIGHER BOTTOMS.

Despite huge bearishness around our markets did go below 27th october, monday close, traded for some time and smartly bounced back despite repeated selling, closing smartly at days high and over 2524 the close of that fateful monday....Bulls did come in to stop the free fall , and it looked like short covering started at the end..Its was important for market to breach and go above 2575.80 today only , and it did 2582.85 in dying moments. If todays low holds for the next 2-3 days, we will surely see a decent rallyup due to WAVE C being formed from here... .Watch & trade accordingly..Most stocks from the Index were at very attractive prices again..Indicators short/medium are very oversold & TODAY WAS THE 7TH DAY OF THE FALL....CHEERS

WASHOUT AGAIN

Markets all over have plunged , and will trigger our market too to gap down.Falling markets have no supports but still supports lie in zone of 2524 and further down at 2468. Select stocks where profits were taken at tops can be picked up today/tomorrow as per your risk appetite as they will again be available at attractive prices with todays open.This is still part of the bottom formation & consolidation , where markets go and test the recent bottoms to see where participants are finding the balance.As markets this month are rewarding both ways , be a trader this whole month .Everyday market is rewarding, so no need to take risks , just follow the trend of the day...CHEERS.

SELL OFF AGAIN

Markets in India despite weak Asian cues ,hesitated and then took off and retested the tops made at 2771 zone, where selling came slowly but surely.The selling then was relentless till the end of day and markets went below the support levels of 2630.Overall if one noticed in the last 2 days the rise was on lower volumes and still the selling is on higher volumes. IT WAS A TRADERS PARADISE AGAIN , FOR PEOPLE FOLLOWING CHARTS/PATERNS (simple yahoo charts , links which are provided in my blog too would have enjoyed the ride )..What next, lets see it tomorrow morning ..take care ..Cheers.

ANY BOUNCE BACK FROM HERE ???????

We are at a very critical levels 2630 zone which is basically 61.8% of the total rise from 2252-3240. Point to be noted here that the WAVE B generally does a 61.8% correction of WAVE A,failing which it can then trail down to around 78%, failing which it can take us all the way to october 27th low or lower.Now in case we hold around these areas, get ready for a good ride up for the WAVE C. 3050 is the NF S/R still . trade accordingly..(Asia is in negative territory still)...lets watch the next day or so closely for some cues & trade accordingly..cheers