REACTION AGAIN

Selling was tad overdone yesterdayso the markets just about crawled up the whole day but reacted at EOD from the 3050 zone , which i had mentioned in the morning..Shorts at that level payed rich dividends again in a short time..March closing is also over today for the NAV related propup.. Its truncated week ahead so maybe nothing much we can expect from the market this week..trade light & in direction..enjoy the day ..cheers

SIDEWAYS NOW

Markets unwinded heavily yesterday, maybe trapping the long rollovers..Being the last day of the financial year some propping up maybe in place for NAVs..3050 area will be a watch zone for any pullback. A few closes above that will run up this rally more.otherwise we could be in a sideways mode for a few days before it makes a move again...supports lie in 2930-2880 zone on the lower side..Trade accordingly..cheers..

BULLS TRAP

Markets were quite over bought through the last few days and layed a typical bulls trap for baby bulls on friday, gapping down today , inviting buying in dip, till it broke and came close to our levels of 2980-90 levels..Had written in morning to keep 3050 as S/R of this week..we are trading well below that, and now break of todays low will take us to 2920 zone if global cues tonite are not supportive..( we closed the day with handsome profits of the shorts /puts initiated on friday /today),,,enjoy the day..CHEERS..

WEEK AHEAD

Markets rocketed up last week surprising all beyond technicals too..thats stock markets for us my friends.. so whats up for this week..3050 take as S/R for this week, The range will depend on what kind of unwinding this overbought markets give..watch 2980- 3150 to start with..enjoy the day/week ....cheers..

STILL RISING.

Markets carried on from where they left yesterday despite volatality during the day( it stopped just below the level in the chart i posted.)..distribution/ profit taking was noticed and , reactions to this up move can come w/o notice..This rally is now close to 600 points and 2 weeks.. will look at techs over the weekend..enjoy the day ..cheers..

RETRACEMENT CHART

The above chart I am posting for all is self explanatory on the path the nifty took from 2539 lows till yesterday....Astounding it looks when u reflect back..but if you read the link i am providing of my blog from 6 march, it was clear that if markets do not break oct 27th 2008 lows, we have a BEAR MARKET rally on hands..
Coming to Today.. we are overbought surely and will advise all not to jump at these or higher levels but to let it cool off and then see from there..Funds may be looking to see better NAV to project for March end...enjoy the day..cheers..

http://niftyspotter.blogspot.com/2009_03_06_archive.html

SPECTACULAR SERIES

Who would have believed we would cross 3100/10000 this month when every EXPERT worth his salt was shouting from rooftops of new lows 2000-1800...Many many got humbled...ASTROs/TECHNOs...Hope ppl. remember my post.. around 7/8th march..MARKETS GO AGAINST THE MASSES..Big lesson for all of us.. At highs of 3000 even i never felt we will do 3100 and that too in a day ..amazing but thats markets ..anyhow march will always be remembered for this bear market rally..enjoy the day ..lets look at things as the markets unfolds for the april series..cheers..

SETTLEMENT BLUES

Markets unfolded volatility yesterday with select stocks rising suddenly,Asia is just about positive and we have a 3046 swing from the past where markets could face resistance over 3020..Trade with caution over 3020 as this is getting stretched w/o any unwinding..do book all profits of longs if any left and maybe wait out a few days for some unwinding .....supports lie in 2930-2880 zone..enjoy the day.

VOLATILE TRADE

markets moved in a volatile way , both ways giving nimble traders gains either way.Todays rise up was on the gains of RIL, kept going up-up..What happens when RIL unwinds..????? any guesses...markets never broke yesterdays low 2914.50 or the top of 3017.40( making a inside day ) and now is going up to test the tops or maybe move over that .... what is to be seen is how /where markets move after the settlement , that will set the short term trend..we are overbought and thats something we cannot deny ..trade light in the direction for tomorrow....enjoy the day ..Cheers.

SETTLEMENT BLUES

Markets made massive moves in last 2 days surprising many with it ferocity either way..These are typical BEAR market moves. We are in the settlement week , and there could be volatality in next two days.. 2930-2880 provides some support to the nifty and 2980-90 resistance. Any rise again to the top will bring sellers now..trade light and buy in good dips..cheers.

REVERSAL DAY

Markets pleased to deceive..(OPEN TO CLOSE WAS NEGATIVE)Despite of all bullish calls, I had given reaction levels around 3020 zone for targets of 2880-2850.. lets see where we reach below 2930..The unwinding in a vertical line was expected with this ride up in one direction....Hope people had booked all longs ...as markets were overbought and waiting to react..where does it go from here..settlement will be volatile stay with the trend..enjoy the day..cheers.

UPBEAT ALL OVER

Well markets done the unthinkable, gave a stupendous rally in total disbelief..what a change in sentiment in 2 weeks time..So what next..Time to get serious..book your profits around todays open ( 2970-80) or a little higher at maybe 3020 zone..We have moved into overbought zone so be prepared for some profit taking, buy in good dips..( This is a typical bear market rally)...remember we will be 450-500 points up in Nifty in this rally. suports lie in 2880 and deeper at 2840 zone ..enjoy the day..cheers..

GREEN ALL THE WAY..

Markets gapped up and just about decided not to relent and kept creeping slowly up till a late surge,maybe when big bears threw in the towel after days of anxiety..I hope people remember my post 2 weeks back when i asked all not to listen to the noise by these dooms day guys , but start collecting the shares they like as prices are too good not to traded in..Hope these guys had not put their money where their mouth was , otherwise they would have been wiped out in puts/shorts by now..
Any how time to be cautious as targets of 2950 already hit..One can expect reactions anytime in the coming days..Do book whats in profits in longs/stocks..enjoy the day..cheers.

POSITIVE ASIA.

SGX nifty and Asia is trading in the positive territory thereby any close over 2810 today will be 3 days close over 2800...Is it good for the bulls for a move upwards..I will watch this carefully before commiting on either side..2775 remains S/R for this week..The chart posted during weekend can be used for the range & possibilities..enjoy the trade ..Cheers.

WEEK AHEAD

2800 is emerging as S/R zone for the coming week...The chart above is self explanatory with the ANDREWS PITCHFORK/SPEEDLINES targets with Bollinger Band giving holistic range..Take your call with the trend with strict SL, as it will be the settlement week and volitality will surely be a companion...Hope this helps all visiting my blog..cheers..