SIDEWAYS TO PROFIT TAKING

Markets just about moved to 3650 zone and profit taking/unwinding started bringing it straight to the weekly support of 3520zone ...breach of which takes us way down..noticable in todays trade was every fall proceeded with more fall & the Bulls just about were absent..Hope people had posted their gains last week..watch 3480-3510 zone in declines and 3590-3620 zone in advances..be careful in trades from heron as volitality could be increasing in coming days /weeks...enjoy the day..cheers..

WEEK AHEAD

Markets entering into a very critical timeframe of this humungous rise,3650 is going to be the S/R of this week. Some astro signatures also changing by this weekend(besides our election results) , which could signify changes. be a intraday trader this week 3500-3800 could be a range....enjoy the trade ..cheers.
PS: 100 ema intraday was in a 30 mins timeframe on friday,3582.85 was where markets took support..

SHAKING THE WEAK HANDS

Markets again & again are shaking the weak hands by giving volatile swings intraday...Whats important to observe is that intra day markets have been taking support on every fall around 100 EMA levels for last many days & then does a nice bounce back. We should take it that any close below this MA , will not augur well for bulls and some serious profit taking may set in then..enjoy the weekend...cheers.

STRESS TEST GONE

Slowly all events are off, global cues discounting all bad news, with retail & many ,the left over feeling very overpowering right now itching to get in somehow , Time for distribution in the next 150-200 points by strong hands as no more cues left forward except plain simple MOMENTUM OR MONEY ..( our own election results round the corner next weekend..)..So what should one do..play the dips & tops , play light and wait watch for the next few Days Markets will definitely do the surprise act..enjoy the day..cheers..

POSITIVE STILL

Markets are still resilious, we made a INSIDE DAY and by closing over mondays close/high i think it has negated yesterdays bearish candle.The levels still remain same..trade light ,in the direction and get out by end of day to start again the next day till a decesive move does not start in a direction.....enjoy the day..cheers..

POSITIVE B4 THE EVENT TONITE

Markets all over are positive, especially the FINANCIAL STOCKS in US ahead of the event tonite, ..Money/momentum is on the bulls side making any & every dip being bought into..Yesterdays bearish daily candle may get negated if we break yesterdays high or close over mondays close..trade light /in the direction and let the event go over..above 3717 expect a rally right upto 3825 zone..supports still are ar 3520 below 3610.....cheers.

PERFECT RANGE GIVEN IN MORNING

Markets moved almost in the range given today morning in this blog..3600-3720.. Savvy & technical traders would have enjoyed the trades today..It looked like a typical trap today, both ways catching the baby bears & bulls..Hope ppl. visiting here enjoyed the range and made good profits..So what next..???????Nothing much to say except trade with technicals & charts whether you are a bull or a bear catch the lows/tops and make intraday money( but surely have a heart first for this kind of market and then trade.., )..cheers.

PS: Todays candle stick pattern ( DAILY ) is UPSIDE GAP 2 CROWS. ( This is a bearish pattern confirming to us of maybe a top & reversal, this gets negated only if tomorows we close over todays high ie 3717..)Watch this closely for your trades..

RANGE BOUND

Markets were range bound yesterdayafter the huge move of Monday , may be same today too , before some movement can be seen after tomorrows stress test event....3600 is the support area to watch and 3720 as resistance area for the next day or so. Trade accordingly..cheers.

EVEN STEVENS

Markets just about went from BEAR to BULLS a few times in the day today , giving ample opportunities to technical intraday traders to trade well ..Now 3700-20, is a supply area to watch ( dont be short above this)and deeper down 3520 as some sort of support area..Wait for a good dip to get in, otherwise do intraday trade only..we may soon be entering a turning point time zone , trade carefully hereon..cheers

RESISTANCE AREA

Markets have just about gone rising beyond anyones expectation , primarily on good funds chasing the momentum and taking it higher everytime it was felt that markets are stalling & a good correction is due where many people would like to get in...3720-3780 is a very strong resistance and supply zone.lower below 3520-3550 is a good support zone.The event ahead is the the STRESS TEST THIS WEEKEND..( even slight bad news is driving the markets up these days)..Trade with caution and intraday and keep booking your trading profits...Long term investments can wait for sometime to get in with a good correction..enjoy the day..

SURGING AHEAD

Markets gapped up and kept going up to 3650 area where it has now spent a lot of time...Above this area 3720-3780 will be a area to watch and below on signs of profit taking now 3520 zone will provide decent support.Do remember now the base with every rise is also moving up...Its going to be a tough month , not only for retailers but also traders as soon volitality may set in which may start giving very wild swingson either side..in the meanwhile ,enjoy the day..cheers.

ROCKING AGAIN.

Asia is quite up, SGX nifty suggests a good gap up moving quickly to the next swing level of 3648 ( as mentioned in a post before)..Wait and see where it leads to...Monthly S/R is 3350 & WEEKLY S/R is 3460, Range for this month could be quite high(2750-3950)..so trade accordingly..enjoy the day..cheers

BIRLASUNLIFES INVESTTIMES ARTICLE

The latest article in March issue of INVEST TIME on page 16.this is on RSI.
http://www.birlasunlife.com/distributiontsetIMS/new/Investime_March_09.pdf

RESILIANT AS EVER

Markets once again moved up stayed around 3440 zone for the whole day to make a decesive move at the last hour to give another spectacular close for the april series..We are again close to the tops of 3520...The long weekend would have made most close their positions and take trade with a fresh mind from monday onwards with 2 days holidays ahead..enjoy the long weekend..cheers.

SOME RETRACEMENT

Markets will open up due to global cues today & will retrace some of the sold positions of yesterday. It could be volatile due to settlement , and also with the long weekend ahead , participants may like to trade and carry light over the weekend. With a gap up on open market may not do much, 3420 zone is a watch area for today..enjoy the trade.. cheers.