RETREATING BULLS

Markets gapped down and the bears just butchered the bulls who thought yesterday that we are consolidating or plain buy in dips policy...(and will move up definitely today)...i feel here people should spend some time on learning technicals/ charting ,it helps.... the market immedietly hit our lower target of 4345 and INSIDE DAY gave the direction which was down..we are at the shoulder support of 4364-68, not much support came from the institutons as all rallies during the day were getting sold out like yesterday..do we break down and move towards the head at 4201 or drift lower or take support here and move up again..lets ponder on that over the weekend..anyone visiting NIFTYSPOTTER would be happy that the weekly technicals for NF were 4511-4324 ..NF moved to 4441-4544 and then back to 4441- 4326..hope people were able to trade this ..enjoy your weekend friends ...cheers

BLOODY REVERSAL AGAIN..

Markets gave a indication of what is in store , when it gapped down , made a INSIDE DAY , midcaps/small caps flew all around..and index stocks just did nothing..those NOT FOLLOWING CHARTS/FUNDAMENTALS would have taken this as consolidation/buy in dip oppurtunity and would be caught in buy positions...MARKETS will hit the support line of 4364-68 and chart its path from there..DONT BE IN A HURRY TO BUY..as despite weaker crude thereis softness all over the globe.. lets see how todays drama unfolds..pls. do remember my magic areas of 4345 & 4304 deeper down..(all those shorts who covered would be left wondering today...thats markets friends..) happy trading and cheers
WOULD LIKE TO THANK ALL MY GURUS TODAY FOR THE WISDOM THEY GAVE ME..HAPPY TEACHERS DAY.

INSIDE DAY

Market did what was expected started soft and gapped down and then drifted down to take support at 4420 levels...despite it trying 2-3 times to move up , selling came back..mid /small caps were flying all around and some of them like moser/hcc/mll/boi etc gave good returns..the market today made a INSIDE DAY, meaning it never crossed the high / low of yesterday..what does this mean...when ever the market will cross either high/low that MOVE can be big in the breakout direction, which should be followed by traders....so watch out for the break out friends...INDEX shares did nothing..is it DISTRIBUTION/CONSOLIDATION , time will tell..cheers

SOFT CLUES WORLDWIDE

The markets rallied smartly on tuesday but the world indexes did nothing much but showed reversals, great softness ,despite crude really cooling off..markets by and large are moving up on lower volumes..some profit taking can be expected as even SGX nifty is trading down..& all intra day indicators have gone into overbought territory due to the huge single day rally..see where the markets open down, where they consolidate and before taking your trading call..BUY IN DIPS AFTER CONSOLIDATION could be a policy ..supports are at 4450- 4410 or deeper at 4368 and resistance at 4572-86..& further ahead is 4628-4650..stop loss for longs should now be in range of 4368.
cheers & happy trading

UNMATCHED RALLY TODAY..

markets were gearing up for such a sudden move from the last few days( very quick recoveries on falls was a silent signal)..& BULLS SHOWED THEIR MIGHT , remember had said support at 4335-4304 & ABOVE 4400 BULLS TERRITORY..markets ran with crude fall in mid day..short calls from the last few days completely got squeezed out , seeing the premium and the way nifty future ran..finally moving into overbought territory intraday and as we moved up fast, caution is required also as we can dip hard too with bears always waiting for the opportunity to attack....global reactions /clues will give clearer direction on thursday to us after the holiday.. crude too is recovering and can get back to respectable levels again promting the euphoria to subside suddenly..we may hit resistance in the next resistance levels of 4572-86..NS ,in case we move up from here..NF managed to cross its weekly target of 4511 easily in 2 days..enjoy the break..cheers

CRUDE MELT DOWN...

Crude after making some noise till $ 120..is hovering in the region of $111-112 , with hurricane GUSTAV losing momemtum ,any break here can take it further down,which is a good news for all the markets specially asia..markets made smart recovery yesterday..closely watch 4364-4390-4398 range for resistance & 4335-4304 for supports,,only a few closes above 4400 can take us towards recent highs..being a truncated week with a holiday tomorrow , there may be cautious low key moves today..trade accordingly..cheers

MARKET REFLECTIONS

Markets opened much lower ,stopped app. at 50% of the rise of friday, took support , consolidated at our level of around 4304 and finally gave a smart swift recovery to close with a notional loss . DTI is still negative and is hovering around the zero line..lets look at some other indicators also in the coming days for the sense of direction..cheers.

DAILY TECHNICALS

US & ASIA markets are weak, markets will open down and maybe remain weak thru out the day..despite the markets going up on friday with a good rally, the DTI was pointing down in daily charts that whole day (refer chart of monthly techs.posted last night)and is about to cross zero line, thereby indicating further weakness..4304 around should give support ..trade accordingly..cheers..

MONTHLY TECHNICALS FOR SEPTEMBER

ABOVE 4400........................................BULLS TERRITORY.

BELOW 4300.......................................BEARS TERRITORY.

BETWEEN 4300-4400........................NEUTRAL

TRADE AS PER UR RISK APETITE. as markets could be pretty volatile this month.

WEEKLY TECHNICALS 1ST SEPTEMBER

NIFTY FUTURE:
LAST WEEKS , HIGH :4395 LOW : 4208
CLOSE: 4370
S/R : 4324
NEXT WEEKS :
R1: 4441 R2 :4511
S1 :4251 S2 4137
NF may consolidate around 4320-24 levels next week..b4 taking a disntintive move..watch R1 & S1 closely next week , break of either will set the tone of direction & quickly take the nifty to the next levels..cheers.

MARKET REFLECTIONS

Markets took support as per the speed lines being shown last few days at 4200..opened and moved quickly above our magic no. 4304 , ( catching the short sellers/call writers by surprise) consolidated and moved on to take out 4335-45..closing at 4360..making a high of 4368 (which is higher than last swing of 4364) . this brings an end to august month,,where are we headed in september???????..lets MUSE over this during the weekend..enjoy the weekend , cheers.

DAILY TECHNICALS

Markets at supports..intraday charts show resistances at 4300-4413 and support at 4185 zone..as i said yesterday evening that care should be taken at 4200 levels ..DTI which cut downwards 2 days back still is below zero and pointing downwards..with global cues being positive markets should open in positive ..BREACH OF 4220 ( which is also 50% retracement of 3790-4650) may take the markets to 4160 zone which has to be held failing which as seen in the speed lines we will head to 3965 or lower levels..cheers & happy trading.

MARKET REFLECTIONS

Back now, the markets made a top of 4304 ( our resistance watchout zone) and break of 4282 took it to straight to 4200 zone as written yesterday and b4..hope this helped all friends visiting my blog and were able to avoid this whip lash..the market was building up the FAKE OUT in the last few days and the classic trap started yesterday..,as we are near supports of 4190-4200 trade carefully..cheers

MARKET REFLECTIONS

Market could not cross 4380 and below 4345 slowly drifted to recheck yesterdays bottom..watch 4304 closely for any upmove, and break of 4282 may quickly take it below 4248 or sub 4200 zone..index shares lost in last hour of trade which is not a good sign..trade carefully in the coming days..do refer to daily technicals posted on 21st august for downwards targets in case of breakdown. cheers
AS i will be out so no daily technicals tomorrow. just look at global cues and see the levels above and trade ..

DAILY TECHNICALS

Nothing much has changed, markets recovered all losses of opening ..after hovering around 4304 for the whole day..cross of 4345 takes it to 4380 & 4430-50 range or break of 4304 will test 4248-4200..the markets may remain flat to positive, trade accordingly, cheers