WHAT A RALLY

Markets after doing nothing for most part of the morning suddenly started moving upwards broke through the 2690 zone went to 2720 , came back to test 2690 again and zoomed up towards 2750 and 2800 area. Many experts talking of the breakdown of the markets would have been caught on the wrong side of the trade..even with lighter volumes people following my blog would have been on the right side of the break out. as the range was clear 2570-2690...The move was big and we are overbought now ..enjoy the day ..cheers.

IN A FLUX

Markets are in a state of flux whereas they are doing much nothing..There seems to be a stimulus package coming in the next few days , and results season will finally be the cue to the break out of the direction. The range still remains within 2570-2690 as of now..Trade lighter and in direction only for compulsive traders. Avoid large positions or averaging loosing positions.Markets have to resume there UPWARD JOURNEY SOON in the next few days , FAILING WHICH WE ARE FACING INTO THE BARREL ONCE AGAIN. Happy trading ..CHEERS..

MARKET UPDATE

Due to some pressing work could not update in morning but have given the range yesterday evening only..Markets took resistance at 2690 zone again and could not cross it the whole day. Even the sell orders were getting covered very fast.. again today we have managed to close over 2630-40 zone.Pls. note now this is becoming a very important zone and any weakness or close below this can invite long unwinding..Lets see how other markets trade tonite..have a nice day..cheers.

RESILIANT MARKETS

Markets just reacted to the world markets in the opening, fell hard , took support around 2574 area i wrote in the morning ..surprised all ( into shorts ) & charted their own course thereon after consolidation for some time and tried to reach yesterdays close..Now what is market telling us?????? ..right now it closed squarely over the strong support of 2630-40 zone..again we have to watch this area for any weakness and look back to 2690-2750-2832 now for any resistances. trade with the trend ...cheers..

RESISTANCE FALL

Right from the word go yesterday market failed to cross 2850, slipped hard in late trade and will sell off today as the whole world indexes are bleeding. All Supports will vanish today..watch 2574 & again 2524 , though the sellout says maybe this support maynot hold this time and we may go all the way down to 2300 & below if we break and close below 2500 anytime in the next few days. As advised be careful of entering longs in a hurry, let the volitality settle, remember there is no bottom for a falling market.....Cheers.

NERVOUS AGAIN

Markets moved up quickly on opening & reached levels of app.2850...( strong resistance zone)which it could not cross ,and just started drifting down , finally collapsing from the top to 2750-2690 and lower 2670..Final Support lies in the area of 2640-30..break of which takes us straight to 2580-2500 zone and below. The selling and unwinding was heavy and , i will prefer a wait and watch policy for long or maybe wait for a bounce to short again.. Again a traders market today...Cheers..

TRADE AHEAD

Markets took support around 2500-2600 zone last week , to close around support area of 2700 . The bias thus changed positive at least for the coming few days .As said before look closely for 2850-60 zone cross of which can take us all the way to 3000 and above. Lets see how the markets trades today.. 2690 still remains a strong support zone over 2630. Happy Trading..cheers.

TECHNICALS FOR DECEMBER.

November is now behind us and we move into December with a very sombre note after the Mumbai episode. Just lost track of technicals etc in the last few days..Anyhow very important to watch 2850-60 zone .This will be the S/R for the month of December. The range could be BTW,2050 to 3650 ie end to end. Weekly technicals suggest watching 2750 zone , range being 2900-2600. All figures given are for NIFTY FUTURE. HAPPY TRADING ..

RESILIANT INDIA

Markets closed in positive despite the worst possible enviroment in MUMBAI & the battle with terrorists still raging hard at all 3 places..Point to be observed is we closed over last months settlement (october)..( this has happened after sometime..)..2718 was where the markets were taking support from ,and then making their move upwards towards 2760-80 range..Do not wish to write anymore today as my heart is still with our security forces in MUMBAI..waiting for this nonsense to finish..lets all pray..good day.

SETTLEMENT DAY SWINGS

Watch the pivot today for cues ie 2718, as market could swing anywhich way.Supports at 2690 deeper again at 2640-50 and resistance at 2760-80..best is to see how trade unfolds and take it from there. Keep the trade size low today & let the settlement and the Mumbai incident pass over the weekend.Cheers.

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