MARKET TECHNICALS

Markets does move on technicals got proved very well today..Despite great global cues and gap up, the markets corrected immedietly as we were tad overbought yesterday & with todays open , the opportunity window for shorts opened & then at the support swing..the longs could be initiated ..( hope people visiting here would have seen the morning advise)Sharp Intraday traders would have seen this in their charts and played accordingly..Those who could not see it should redo their homework on technicals..so what next...we dropped to and below 5095 and are over it at close..Still watch that zone for ur trades..bullish above and bearish below..enjoy the day cheers.

GLOBAL PARTY

Global markets specially US/Europe are partying right now..nothing much to add..see the levels given yesterday & try to follow it(5095 watch area)..MY ADVISE..dont chase the markets...But book profits where so ever they are.. enjoy the day cheers

HIGH CLOSE

Markets closed over the 52 week previous highs...Shorts would be worried at close today on the move going forward..Despite of high close, I would be cautious and will be alert on any sudden drop on the way going up.Global cues can push markets suddenly towards 5250-5300..watch 5095 for any signs of weakness in days ahead..5150-70 could be a reaction zone ..enjoy the day cheers.

TESTING HIGHS AGAIN

We should be testing old highs on open as SGX NIFTY suggests..so range of 4920-5110 gets completed again on the higher end..Caution again at heights..Best foot forward is wait and see where it holds supports to guess the next move of the markets..Cross & close over 5110 could take us all the way to 5300 or above..break below 5000 will augur weakness all the way 4900 or below.. the range is set and the move could be quick..trade with strict sl so as not to be on wrong side of the trade..enjoy the day cheers.

SUPPORTS HELD

Markets held on to the 4900 zone for supports( positive divergence in intraday charts on friday) as I had been writing for a bounce back straight towards the old highs over the S/R of 4980 of this week..Hope ppl. visiting here would have used todays given levels to play in longs in NIFTY & STOCKS for good gains today..WHAT NEXT ????..well to start with the Shorters are badly trapped and puts butchered..If Market are able to hold 5000-5020 , A breakout over 5110 can be expected too in near future..enjoy the holiday, cheers..

THE WEEK AHEAD

Markets closed WEAK below watch zone of 4970.Break next week below 4920 in close will not augur well in the short term as( 4900 puts shorts get unwinded then )the range of the markets could be 4830-5140 in the coming week with 4980 as S/R zone. Keep your trades light till a bottom is in place.enjoy the weekend.. cheers.

CONSOLIDATING MARKETS

Markets are consolidating in 4900-5000 zone & as OI of the puts here is increasing suggesting writing of puts which in turn means supports are good in this zone...short covering took place in calls 5000-5200 yesterday, suggesting a bullish up move in the coming days..4970-5050 is a small range ..break of which can test 5110-4920 again..trade accordingly..cheers.

ANOTHER JERKING DAY

Another day of wild swings and jerks Non Technical traders must be having a harrowing day today.. ..All gains given up twice today....Seems markets still are 5000 +/- trade bullish/ bearish..support should be there at 4970 levels below which we go to 4920..the old lows..5050 is becoming a problem area for markets to cross now..lets see how global markets trade..enjoy the day cheers.

RIL BONUS

Morning trade will have the influence of the RIL bonus declared after market hrs..shorters in RIL may have a harrowing time..5000 is a watch zone..bullish above this and bearish below that..range is 4910-5110..lets see how it moves in days ahead as volatality will crush traders with SL's getting hit both ways..trade small & in the direction with care in coming days..cheers

PROFIT TAKING AGAIN

Markets remain in volatile mode...seems smart money enjoying the premium of sold of options in 4900-5100 range by keeping markets in the same range or smaller.. Markets reacted from the levels mentioned in my morning post of 5090 and took supports below 4990 range..Range traders could take trades..Post market announcement of RIL bonus will have its effect tomorrow on opening..lets see how trades go..enjoy the day cheers.

POSITIVE DAY

Markets after the huge 2 way move of yesterday may open a bit up and then just about consolidate for further moves..5090-5110 is the watch area on highs and 5000-5005 area is support zone..ALL LONGS should be avoided below 4990 from now on..enjoy the day cheers.

HUGE JERKING DAY

Markets have been waiting to jerk weak hands in the last few days..hope people visiting my blog would have used the 4990 to watch for any weakness area as their SL.. for a target range of 4910-30 support..Anyhow a great swing trading day today ..watch 5050 above which the old highs of 5110 for any bullish moves..Volumes were huge in the 2 way jerking days..CHEERS

MARKETS AHEAD.

Markets have taken support around 4990-5000 zone for the time being..Only above 5050 will it try to take out the old top..Watch 4990 closely for any weakness ahead..trade accordingly..cheers

MIXED DAY

Markets gapped down & then just about retraced all the losses and then came down to retest the lows again..The next few days trade will tell where we are headed ..4900-4930 zone should be watched in coming days and if we remain over 5030 we may retest or cross the recent tops ..trade accordingly ..cheers.

SOFT CUES

Markets will gap down today as SGX NIFTY shows..shorts should be booked and as when markets take support some longs can be initiated ..Supports lie deep at 4900 around..It will be interesting to see the coming days as breach of 4900 zone in close can take us deep down..and on cross of old highs to maybe over 5200..enjoy the trade..cheers..