WHAT A ROLLER COASTER RIDE

Amazing but true, twice in this week the markets covered their huge falls in a surgical/swift manner.taking support at 3799( above last low of 3790), i had written in july in VFM Direct, It will be very difficult to break MAY'07 TOP OF 3774..still holding my friends despite huge bearish calls then and now too..crossed 3850 headed staright for 3920 & above it just went beserk to end the day at the top at 4043..(hope the chart posted in morning helped.)..Does this mean we are out of the woods..DEFINITELY NO, theres still lots of problems in the finacial world and lots of bear market, time wise....we ran up as it looked a bit too overdone and goverments world over also tried to intervene to stop this one way spiral. SOMEONE IS BUYING last 4 days in every fall, they should be institutional /big buyers/smart money who were in cash..MY CALL OF BRAVEHEARTS TO BUY would have paid very rich divedends. today and later too.thats markets my friends...enjoy the ride but be sensible and brave..WHAT NEXT..????will ponder tonite..do check tomorrow morning..cheers.

TSUNAMI AGAIN IN WALL STREET

Huge selling in US has followed up with Asian markets crashing too, supports will vanish again today. The above chart gives us a app. targets below where the markets should take support. 3850 zone ,3790( old low) and below 3680 then holds the key to this unprecedented deluge caused due to total collapse of US financial giants.. The DTI is still pointing strong sell lets see where it takes us..2 gone, 1 bailed out , 2 struggling, what more can be bad...all bad news has come in droves..CRUDE /GOLD moving up..A very heady cocktail for disaster.For brave hearts again, buying a little in extreme panics has always given dividends, as this is a real one way road so far..SELL/SELL/SELL, but trade with your risk appetite only as conditions are really bleak.REMEMBER TODAY WILL BE THE 8TH DAY OF CONTINUOUS FALL.cheers and best of luck .

WHATS HAPPENING

Markets not giving any help to traders , it was a real thriller of a markets with wild swings both ways..it seems SL could have been hit both ways if trader was not savvy..after opening positive markets today closed much lower than the open thereby indicating further weakness still...4016 was crucial support , we have closed below this.. supports still are in the region of 3970-90 and deeper at 3920-3845. Anyone who is scared of volatality should stay on the side lines for a few days so as to let the market decide its course & directions as everyday the debate world over is..... who else next day..Remember the best long term investments are made during panic dips...Trade well..will try to do some charts and some targets .for all of you...cheers

REACTIONS RUNNING THE MARKETS.

Nifty took support at 3920 , turned and recovered complete days loss to close in positive. As suggested yesteday that open to close was higher, we will open positive today and then chart the path for the coming days. There were many bearish calls during the weekend , wild levels being discussed, many may now be trapped in the shorts they created in last 2 days..the short covering too will take the markets further up. level to watch will be 4070 in support and further down 4016 , with resistance in range of 4160-70 (NF WATCH 4167) & further up in 4200-4220 zone. The bias is up for the day so trade accordingly..cheers

INDIAN DELIGHT

Despite all weak cues from world financial markets, the indian surprise in adverse situation again came along to maybe surprise many ( specially short guys) . Market took support at 3920 which i had been saying as WATCHOUT ZONE and turned from there after consolidating for some time..short covering was visible as index stocks lead by RIL /SBI/ABAN etc started rallying..even the mid/small started dancing in the last hr..NTPC/SAIL /BOI/BOB etc gave the usual support..intraday charts are showing a turn and markets made a top which is tad lower than yesterdays high..seeing the open to close which is higher today ,we can expect bullish opening, & FEDS announcements WILL BE EAGERLY AWAITED by ALL..Always remember deep lows are made when some big mishaps happen.thats when you get great values in stocks too......any one listening?????i have not written no bottom fishing last 2 days and its traders paradise again today..BRAVEHEARTS THOU SHALL WIN ALWAYS...cheers.

HURRICANE IKE IN WALL STREET.

The hurricane changed course, paid a visit to the Wall street after going through Asia and Europe , left enough destruction & skeletons ( very old huge institutions going under) for experts to write/study about for times eternity. My heart goes out for all the employees of these 2 institutions, who will have to start their lives afresh from today. News of AIG , and many smaller banks going under will add huge woes to the already stretched system..WELL THIS IS WHAT BEAR MARKETS ARE ABOUT..removing the acceses of the bull run.
Is there more to come. Yes surely why not , Time wise we are just eight months into this bear run which can last 18-24 months or more maybe..Will we have a RELIEF RALLY, surely whynot ,maybe soon when dust settles..lets look at supports again..SGX IS AROUND 3900..as written below ..3920 then 3845 & 3790 our last low..should lend support , FED also tonite may have some package (as usual in crisis ) for the financial markets which may give some positive boost to the sentiments..remember ..ALL BAD NEWS IS COMING IN HORDES ....there is always light at the end of the tunnel..BTW CRUDE IS AT RECORD LOW BELOW $92..any takers in stockmarkets (last time when we were at these levels ,crude was on fire and much much higher)....wrong time to ask this question....take your call as per your risk appetite..cheers.

BULLS/CALFs ALL BLOODIED

No place to hide today , nifty plunged breaking all supports of 4160-4070 in opening and then did take support at the 3970-90 zone as mentioned by me in the morning..and made a smart recovery thereon when everything looked so gloomy ( even rumours of 10% lower circuit) LOLz..looked like big short covering there in a hurry as they were in huge profits and such a deep fall came after ages.. REMEMBER , had warned the Bears are just lurking around and will pounce hard on any weakness. All friends who took my advise of NO BOTTOM FISHING would have fished well today for very quick gains and some delivery deals..Lehman provided the clue and the party started.We have 3920 zone as a very strong support area, deeper down it is 3845 , which should give respite to the bulls. lets see how tonite unfolds in the US , what with Lehman and markets in a spiral down..its going to be interesting to see what action fed. takes.. THE MARKET TODAY REWARDED BOTH THE BRAVE BEARS/ BULLS. The good news today was CRUDE went BELOW $97.. lets relax and enjoy the profits today, guys the day was a traders dream...CHEERS.

NIGHTMARE DURING DAY

Financials Financials & Financials are driving this market for so long . crude below $100, prices at good values etc not helping the sentiment..and the biggest blower from last few weeks LEHMAN BROS finally may be going down if no suitor is there, remember this is the forth largest investor banker in the world..negating the sentiments all over the globe..most markets in Asia are closed and our indian friends generally do big moves on such days..so where we headed..4160-70 was a good support line for so long will be breached in opening as per SGX nifty . NF has strong support deeper down at the 3970-90 from where the bounce back can be expected soon. I had been asking all not to do any BOTTOM FISHING, Hope this has helped all investors and traders now can find very good value for taking trading calls afters today gap down. with todays fall the DAILY / WEEKLY CHARTS may move into oversold zone soon , so caution should be used for shorts at lower levels as a relief rally could be in store . and if a suitor is there for Lehman..today ?????????...the scene will change suddenly/dramatically.....also pls. note that the chart i posted below yesterday 4500 is the mean average of this market and somhow its spending a lot of time in this zone..trade well ..cheers.

SPEED LINES - MONTHLY CHART MAY2003-TILL DATE

MAY 2003 TILL DATE , CONNECTED 920 TO 6357.. see the 3 support speed lines the chart has generated. they are 5800-4500-3200 app. this is the zone the markets will trade in the coming times...take ur call as per your risk appetite and trade accordingly...always remember we are in the bear market and they remain there for long time and you can not wish them away easily and they keep attacking all weaknesses till all excesses are not removed of the bull run.. cheers..

NIFTY FUTURES WEEKLY 15TH SEPTEMBER.

HIGH/LOW : 4564-4216

CLOSE: 4245

STOP/REVERSE : 4341

RESISTANCE : R1 -4467-R2- 4690

SUPPORT : S1- 4119 - S2- 3993

Markets are close to their 1st monthly supports around 4160-70 zone..Intra day charts too are oversold . Any further weakness from fridays close should be used to close shorts and savvy traders can go long for quick profits. markets can retrace upto 4304-28 -68 and then to 4400 levels , where fresh supply can come again from trapped bulls. Markets world over are seeking some clues for any Bullish upmove , but on the contrary, the Bears are getting stronger with more and more weak financials emerging daily. Bulls could not protect their 4368 levels and gave way quite easily by stepping aside.Watch technicals next week carefully as this hold the key for the next few weeks..enjoy the weekend..cheers

WEAKNESS GALORE

Markets opened weak, recovered and then gave up all gains to hit lows at 4200. Asia/Europe was trading positive..we are at critical support at 4200 break of which can take it straight to 4160 & 4110. Todays main culprits if any are RIL & INFY(vertically down and then a general sell out as traders pressed the SHORT buttonsin late trade. Those who held back their purchases or did not do bottom fishing may find good value next week as markets despite dip is really oversold and can give a good bounce back too. be careful of shorts specially if we open DOWN..wait for a corrective rise before planning any further shorts ..Seems financial problems world over are still raising their ugly heads and institutional buyers are unloading their profitable positions all over, equity or commodityor anything , to take care of pressing needs or preparing for future skeletons which still are in the closet..enjoy your weekend..cheers

MARKETS STILL RANGE BOUND

Markets seem still to be range bound despite the crude /commodities being so soft and hitting lows in months , the range being 4250-4550..a significant break is reqd. at this range to signify the direction. This in fact is becoming a trading market , buy low/sell high .as intraday indicators went oversold again , a bounce is expected today, ( sgx nifty already up) till 4328-4368-4398 levels. support depper is in range of 4201-4220. As this is last trading day of the week not much activity is expected today..keep trading and be light footed..you will get days when you will get good prices for your favorite stocks, buy & hold , but always keep something stored away for that sudden deep fall which gives mouthwatering prices for long term investments..happy trading..cheers.

BLOOD BATH

Nifty slipped below all its support lines today..what i had been advocating from the last few days of slippage in sight after the DOUBLE TOP & LOWER TOP DAY , and went down to test 4270-82 area thereby giving up all the gains of this rally. it broke the shoulder support of 4364-68 & is getting ready to test the head area of 4201-4220, breach of which spells doom temporarily for bulls. As things look pretty oversold in very short term a rally can be expected till 4368-4398-4420 zones..the erstwhile support areas. Despite the crude/gold slipping , the financials of the markets world wide are still not good and institutions seems to be lightnening their portfolio holdings on every rise. i hope no bottom fishing advise in the last few days given by me , would have helped all visting this site as prices really tumbled. Building Portfolios should be avoided for more time and for deeper corrections in future, one should be a pure trader in this market to buy & sell at bottoms/tops..cheers..

TESTING SUPPORTS & GIVING UP

Markets world over are soft & correcting despite crude /gold drop..seems to be waiting for a cue as Bulls look like being on the side line..will they hold 4368-4328 zone or go to retest 4201 low..next few days will tell. market is moving surely now in zone of 4300-4500 waiting for a decider to finalise the direction of its move.avoid bottom fishing as no clue is available. the speed line chart posted before still remains valid . trade acoordingly cheers.

SLIPPING AGAIN.

Market slipped again today and moved towards 4398-4400 support zones..metals gave way in a big way , so did index stalwarts, thereby giving the impression of weakness and no conviction of moving up..intra day charts are indicating further weakness ahead & we will have to wait a few days maybe for confirmation by closely watching the 4364-68 zone & lower at 4328 , if it breaks this levels and closes below this , this could be a confirmation a deeper malice than is visible today...Global clues are required to trigger any upmove & Bulls have to defend this area strongly to resume their upward journey towards 4650 & above.. be careful of bottom fishing..cheers.