NERVOUS STILL

Markets still are carrying lots of nervous energy with them, as every attempt to close above friday high resulted in selling..The range is 2550-2650, break either side should give a quick100 points move..trade accordingly..cheers.

CATCH UP

As SGX NIFTY suggests we should surely play the catch up game on opening after 2 days of holidays..2660 NS is the resistance zone over which we can trade all the way towards 2700-2750..supports lie at 2585 zone.( see the SPEED LINE CHART posted yesterday)Its very important to watch the US MARKETS in the coming days to see whether they hold/break or make a higher low, This will give us some idea whether we will hold our lows(2530) or not & also if some kind of a BEAR RALLY is lurking somewhere in the background...enjoy your trade if long..cheers.

HOLI SURPRISE

SURPRISE SURPRISE...specially for dooms day advocates..what a rally US/Europe gave last night..if all remember, I have been saying for last many days we are over sold and shorts have to unwind..they did as it was a composite rally of all shares..(We went long in select stocks /options )If markets are able to hold these gains over the next few days..maybe bigger, larger money/funds too start looking in..The above chart of SPEED LINES gives us a tentative range & direction..Watch 2500 now for any weakness, breach / close below this should be SL of longs.. HAPPY HOLI

INSIDE DAY

Markets made a inside day, ie it never broke the HIGH/LOW of friday(2537-2628)..shorts seems to be covered in last trades as nifty futures moved up from the lows..To trade ahead , watch the breakout of the friday's high/low..Again will advise all not to get biased due to all the noise around the markets..REMEBER MARKETS TEND TO MOVE AGAINST THE MASSES.. enjoy the holidays ..will post some tech. chart in next 2 days ..HAPPY HOLI...keep visiting..cheers.

WEEK AHEAD

First of all let me thank my friends visiting here for all the offliners/ mails they sent me on my post on BOTTOMS /STOCK PICKINGS posted on friday .. thanks again guys& will try to look in future also at the reality check rather than getting bogged down with noise..
..Markets After managing to hold the 2530 levels , market will try to see whether this has to be a temporary support or has to seek lower zones for supports. 2600 will remain a S/R for this week with 2660-2530 as trading zone, any breach should take us app. 100 points quickly..being a truncated week with 2 holidays ahead, market participation/commitment may be low..trade accordingly.cheers.

THANK GOD FOR MERCY

Well well it seems , someone read my morning musings and despite bearish calls /enviro, supports of 2528 NS held, and slowly but surely the markets moved up closing again over 2600..at the top of the day. 2660 now is a resistance zone and any bullish move will have to close over this level..lets see over the weekend where we may be heading to....

There has been a raging debate amongst the astrological circles last few week/days of significant plannetary signatures taking place starting tonite & next few days , which have a BEARISH IMPLICATIONS  for coming days etc..WILL IT HAPPEN.. ..only the experts know, all i know is we were/ are oversold ..and unwinding of shorts have to take place..enjoy the day..

FEAR IS THE KEY

Markets specially in US are being completely governed by Fear right now , with no positive cues in sight.Lets take a REALITY CHECK of our markets..In general leaving aside a few select Index shares most shares are below the oct'08 lows..almost between 5-15% maybe of january2008 highs..so whether index is at 2650- 2550 or at 2250 how does it matter to the investor..Wise people recommend BUY when there is FEAR ALL AROUND ..can we go down to any levels which market pundits are discussing everyday and all the day..surely we can..they are just NUMBERS in this game now ..I feel time has come when People who are serious stock market investors, to start looking at those shares which they always wanted to buy and are now battered/butchered beyond shape..( put your foot in as no one knows the bottom..)maybe keep away from those index propping shares which will face the music on the day of the panic......My submission is if you have survived your buys of 6000-4000 levels and are still around the markets ..buy around these levels wont kill.. get out of this index levels mind game..look beyond that..THINK ABOUT IT??????..time is coming to take the call with the mind rather than the heart....enjoy the weekend & the coming holidays next week..cheers.
ps: your views on this will be welcome.

SELLING GALORE

This was one of those days when the selling was in real slow motion and at the end of it just wondered , why i could not see it..Unwinding at such oversold levels does not augur well in short term..Can it slide down more , why not it can easily if there is more unwinding , but initiating shorts here wont be advisable..markets have to cross 2650 soon to give some support ..The weekend ahead and 2 holidays next week may keep many ppl away ..lets wait and watch what unfolds before stepping in..enjoy the rest of this day..cheers..

CAUTIOUS AHEAD

Markets just about held on to the 2600 levels yesterday too , any breach can take it 50 points quickly down ..range now is 2600-2700 (+/-) 50 points. Asia is not very encouraging right now , however still a bounce can be expected around these areas..trade light and in the direction..cheers.

2600 LEVELS HELD

Despite Asia being in positive & Europe also opening in green our markets just about were so very sluggish the whole day , riding up in spurts on bouts of short covering . As i had mentioned in morning markets are a TAD oversold and due for a bounce , slower indicators may be turning for a upward move in intraday charts ..Be nimble footed/ light and trade with strict stop loss in the coming days....enjoy the day.

SUPPORT ZONE

We may be approaching a small support zone around 2600-2550, where after days of weakness markets may take a breather and can give a small bounce back..Most markets are in oversold mode right now and some reversals should be expected..2550-2750 could be a temporary range..select stocks can be traded on intraday basis in the next few days..enjoy the day cheers..

DEAR VOLATILITY

HELLO, we were really missing you.. and here you come..everyone around was cribbing about the boring small range market & you quietly came in , expanding the range which i had mentioned a few days back..Now what????get ready for RANGE EXPANSION and WILD SWINGS, which definitely is a paradise for nimble traders but a nightmare for small FNO or investors. markets managed to keep its head over 2600 NS levels closing below 2660 for the 1st time signalling weakness....lets see where it takes support for the pull back as we have moved into oversold zone ..cheers

US /ASIA DIFFERENT STROKES

Seems US is unfolding all the problems in its belly by the way of daily melt down in the markets there..Are we in Asia trying to say we are different..At least i am thoroughly confused also now as where- what we should believe or hear about..This extreme chest beating daily of testing lower/lower levels by our markets is somehow taking a toll on the participants as volumes somehow seem to be falling daily..SO WHAT SHOULD ONE DO..maybe wait out this period, or do some select stock buying and be prepared to buy the same small qty at lower levels..FNO play I would recommend to be done only INTRADAY..technicals /charts are giving divergences too..coming to our markets ..the range today could be 2635- 2660-2730 NS...enjoy the day ..cheers..

WEAKNESS ALL AROUND

Markets just about crumbled all around Asia and then in Europe, giving us a weak close too. It just teased the the old low of 2661, closing a tad above that..opening and closing time put pressure on the markets to sell out..Markets are at crossroads, any further push and it can head straight down towards 2550 levels if global cues do not help..and if it takes supports here can just about move back and retest 2750-80 maybe again..gap ups/ downs not helping traders at all..trade with care in the coming days..cheers..

VOLATILE MARCH

March series/month seems to start with volatility/sudden ups/downs as triggers to move up are just lacking now & all stimulus failing, time & again.2800 will be the watch area for march month. A pretty gloomy picture today morning with Asia in deep red( good we cleared all longs on the weekend).The range may expand this week ,be careful in longs as supports are being pressed.2600-2850 seems to be the weekly range as of now..will advise trades...DONT RUSH to go long ..happy trading..cheers..