PROFIT TAKING

Hope all visiting my blog would have heeded to my observations of top tops and that profit taking will set in and we will test levels of 2990-2950..We went spot on there, (We were short from 3100 levels with NF & with jan. puts)despite of huge calls of 3150-3250-3300 by so many experts , we followed our technicals and charts..lets watch 2920-30 zone carefully for any support for upmove , otherwise it will be selling on rise by trapped bulls..enjoy the day ..Cheers.

LOSING STEAM

Markets lost steam around 3100 levels after failing to go towards 3150 levels , just gave up gains..Asia is soft and some more unwinding can take place. Watch 2990 and deeper down 2950 for support....resistance now lies at 3100 zone cross of which this time can take us to 3200..Trade carefully in the settlement week and light..Cheers.

DOING NOTHING

Markets have done just about nothing , pleasing to deceive, not much conviction in the upmove as volumes were low the whole day..whats up then , markets looking for yearend clues and may dip if fresh buying does not emerge. Trade carefully and in small lots and let the settlement go past before forming any stratergy. For stock investors only buy in good dips.Enjoy the day...cheers

SOFT MARKET

Markets as a bit soft and seeking direction, we are in the settlement week where generally volitality sets in..kindly look at the weekly techs posted for trade direction. 2990 -3150 seems to be the range as of now break of either side can take us quicky 80-100 points either way..Happy Trading cheers..

WEEK AHEAD

Markets showed good resiliance and despite overall belief of being overbought/overstretched, it defied gravity to close at the high point of the week. the S/R works out to be 3050 and the range is 3220-2880..Its the settlement week & volitality will be at its peak. All inputs for boosting economy have almost been put in by governments all over the world..trade light and in the direction...Enjoy the weekend..Cheers.

TESTING TOPS

Markets are defying gravity and testing the tops again and again. Looks like the settlment is the main sentiment right now. Close over 3100 will take us to 3148-3200 area and below 3050 we are headed for 2990-2950 area..lets look at some charts/technicals over the weekend to give us some cues...cheers

SOFT MARKET AGAIN

Markets are unsure to the direction they have to take, thats the reason of the reversals /gains. Above 3078 the levels to watch are 3148-3200 and below 3040 area, 2990-2945 . Trade accordingly..Cheers

WHAT A PULL BACK

Markets again surprised everyone by displaying weakness in opening & completely reversing yesterdays fall by EOD... 2990-3020 did provide some resistance , but failed to hold the upmove.. Break of the top 3076 will take us to the level of 3148 and slightly higher of 3200-3220. Trade once again with caution on the long side and wait for good dips only to get in..The markets are stretched on the upper side..kets see how trade unfolds in the next few days ..cheers..

WHAT NEXT ???

Profit taking started yesterday from the open and any rise to 2990 - 3020 zone may now be utilised to clear longs, any further fall can take us to support zone of 2880-2860 below which a steady fall can start.Lets see how markets unfold in the next day or so, be a trader now and trade with small SL in the direction of the markets....and trade light for the next few days for markets to decide their next course. It seems yesterday a near term top is made, in case this top is taken out and we close over it , the logical target will be 3200-3220. Happy trading..cheers.

SELLING GALORE

Nifty gapped up to Deceive, made shorts take a stop loss yesterday/today then trapped the baby bulls seeking 3150-3250 levels..to just reverse and grind down to the levels I gave as support of 2945 ..HOWS THAT. ?????? All visiting my blog would have gained by reversing positions and clearing all longs..& going short even in small lots..THE MAGIC LEVEL OF 3078 WHICH I WAS WRITI NG for days as a top NEVER GOT BREACHED...SO RANGE 3078-2945 worked well today....It was a good profitable day on the short side..hope all friends coming here and in a friendly chat room enjoyed the sell call and levels given... enjoy the evening ..CHEERS.

POSITIVE ALL AROUND

Markets world over now just looking at any small good news to keep the gains going and taking markets into a overbought zone. Well this is what a Bear Market Rallies are all about. Fact is IT cannot defy gravity forever. Book your profits and sit back, let it cool off and give a good dip for you to enter again .Watch 3148 NS as that is a strong resistance for this ride. Positional traders can take small reverse trades on signs of weakness. Supports lie at 2945 & deeper down at 2860 zone.Happy trading ..cheers.

RETRACEMENT CHART

This is retracement of 2945-2812..and where the cross of 2945 was to take us..It was headed for 3078 and there we are almost today...the top of this run ican also be 3148 as of now... Markets will retrace to 2945 zone again to see their strenght..Hope this helps all who are stuck in shorts ..cheers.

SHORT SQUEEZE OR RALLY

Despite weakness from morning Nifty moved quickly in the last hour to its target of 3050-60...after crossing 2990 which was resistance of the day.The short term target is 3078 beyond which we will be heading towards 3150 zone. Supports now at 2990 , below which they are at 2950 zone. The close over 2860 for a few days , gave strenght to the markets and they have been marching ahead despite all bad news..Will advise caution here and any buy has to be done only on good dips. Take care cheers.

SOFT CUES

Markets are a little soft all over and will be awaiting fresh news for any move up..3050-60 seems to be a short term top, 2880-60 will lend support to NIFTY & 2990 resistance..Trade light and let markets define what it wants..Cheers.

TARGETS FOLLOWED

Being on the LONG SIDE from 2600 levels did make the nifty reach its logical target of 2990-3020 zone..A little more push could have taken it to 3050-60 which looked like the destination from the time we turned from 2812 area on Friday. We are very close to the end of at least this run..so do book your profits.. wait for the dips and see where the markets take supports to plan trade ahead...This has been a Shorters NIGHTMARISH TWO weeks....remember guys keep small stop losses to live to trade another day in the stock markets .. enjoy the day ..Cheers..