RETRACEMENT

Markets bounced back from the support zone of 5050 to close at the top of the day.The global cues are still negative and Daily charts still indicating a sell along with weekly charts ..that will keep the pressure on the markets..Break of yesterdays low can take us deeper down..5160 is a resistance over which will be 5200 zone..Be a trader till this sellout does not stabalise..This is a correction of the move from the lows. for today 5080-90 should provide support ..enjoy the day cheers..

PS:This is for sunil talreja..
sunil , your buy yesterday was good keeping in view longterm as this is a commodity..your next question of when to buy long term..well my take is Markets always give a huge huge jerk at least twice a year..when the correction is for 3 weeks or over..buy then what you like for long term investments..you are safe then..

HUGE JERK

I hope all friends following this blog would have been cautious as i had been writing from the last few days that global cues are lacking and break of range 5200-5300 will be the cue..Markets will GAP DOWN on open today at a support level of around 5050 around below which 4990-5000 should provide good support for a small bounce back..resistance will be now at 5100 & 5150 which will be difficult to cross quickly..Break of the low made today will augur more selling to test the 4900 around zone..wait for the markets to stabalise in the next few days for any investment ( NO ONE KNOWS WHERE IS THE BOTTOM)..BE A TRADER in the mean while ..happy trading..cheers

C0NSOLIDATING

Markets are consolidating in the 5200-5300 zone ( OI data also suggests build up in the puts/calls of these strike price) to see whether it can have steam ahead to cross 5400 & move forward or needs more unwinding to consolidate much lower..Watch this range for break out/in , in the coming days week & trade accordingly..enjoy the day cheers.

WEEK/ MONTH AHEAD

Markets still showing weakness despite recovering from lows /selling...global cues still missing & still weak....Watch 5270 zone for this months /weeks S/R , with a range of 5050-5550 as monthly outer range & 5100-5400 as weekly outer range..Take trades with SL's as coming weeks could turn volatile. enjoy the day & the week cheers..

RETRACEMENT TODAY

Glabal markets stabalised at our support levels of 5200 around & our markets after consolidating yesterday will also move in tandem towards the resistance zone of 5270-90..Do book profits of longs initiated to enjoy the weekend..Next WEEK/MONTH could be a NEW CUP OF TEA...enjoy the day & the weekend..cheers.

SETTLEMENT DAY

Markets are weak & settlement day could be volatile..5180-5200 zone is a support and 5270-90 zone will be resistance.. Trade the ranges with strict sls in the coming days before markets again show their hand..enjoy the day cheers.

THE JERK

As projected yesterday due to lethargy in the markets the jerk was lurking around the corner & the global cues will trip the market today on opening..5180-5220 is a support zone below which some serious profit taking can emerge..5300-5320 will be resistance zone in coming days..trade accordingly..cheers.

LESS CUES

Markets are still not having any positive cues for a break out and may consolidate by retesting 5280 or lower..Only BREAK & CLOSE OVER 5400 zone signals a break out ahead.Be cautious as markets seem to be nervous & can give a BIG JERK too when it lacks momentum on the upside....enjoy the day cheers.

WEEK AHEAD

Its the settlement week so expect volatality to set in. The S/R for the week is 5270 with a tentative range of 5100-5450..Gap ups /Gap downs not giving much opportunity to Intra day players..so wait for a range top/bottom to get in for gains..enjoy the week & the day cheers

CONSOLIDTION

Despite our break the market is just about consolidating in the range of 5200-5400.. There are not many positive cues globally as of now to give a fillup up & bad news is slowly filtering in..My view is to play this range carefully & break of this range is then traded in the direction...will look into technicals during the weekend to see the path ahead in the coming weeks..cheers

TAKING A BREAK

We are taking a break starting tonite till 22nd April..So will not be able to update daily technicals .
We are planning to start a POSITIONAL CALL SERVICE in the coming DAYS at a ATTRACTIVE INTRODUCTORY PRICE..All friends interested in availing this service send us a mail at our mail ID's..so that the offer can be sent...

HAPPY TRADING..

WEEKLY TECHNICALS

Markets gave a jerk last week to again retest the top ..5350 zone is the S/R for coming week with a range of 5450 to 5250 ..Care should be taken in the coming days as results season kicks off..Use strict SL's for the range mentioned for trades in the coming week. 5290 break this time will lead to deeper corrections & cross of 5410 will lead us towards new highs..enjoy the week& the day cheers.

JERKING DAY

As written in the last few days 5400 around was the resistance & the JERK area..the fall was expected and went straight for the jugular below 5250-60 taking us all the way to the support zone at 5290..(Hope ppl. visiting my blog appreciate that Its very important to understand the trading range..as the fall from tops is always fast & furious)so what next..?????watch 5260 zone in case we slide down on the down side & 5330-50 on the upside..enjoy the day,weekend..cheers.

RANGE BOUND

Markets still in OB zone , so every rise is getting into a wall of profit taking..Markets have to take out and close over 5410 for a few days to give a move up ..5300-5280 should give good support failure of which a deeper correction could set in.Trade accordingly..cheers

CAREFUL AHEAD

Markets have slowly moved into the OB zone ..will try to consolidate here for any further move up..The final rush could take us nearer to 5500 around..Watch 5350 closely for any weakness..Do book your longs as we go up as markets always surprise with a furiuos /sudden move downwards..cross of 5400 could be see resistance emerging around 5410-20 zone..enjoy the day cheers.