WHAT A VOLATILE DAY

Huge fall and then the recovery and what a spectacular rally then over yeterdays close..close above the last high 3303 favours the Bulls and that means Big Bears have thrown the towel for the time being and covered their shorts..Markets again moved into overbought territory and PCR too going into one sided mode..3390-3430 is a area to watch now on the upside and 3270 becomes now the stop loss for longs..( the good dips it seems are not coming for a good buy and markets just creeping up) i will still say wait for a good correction to get into the market.. this volatile market is not for small traders/investors ..enjoy the day cheers..

WEAKNESS ALL OVER

Global cues are really soft on profit taking...If friends had read my post on monday , I had been advising of this sudden turn from these area..( our shorts & puts of monday will rock on open today)... 3150 is a small support zone ,but markets can drift to 3035-3060 zones below this area..lets see how it unfolds in the next few days as all SMART MONEY should be in good profits due to this 4 weeks rally and Friday/ Monday were typical distribution days..enjoy the day..cheers.

FORGING AHEAD

Markets opened with a rush but kept selling off the whole day to rise again ..Global cues is what it will seek now as it is stretched quite a bit..Retail/ small traders would and should be sitting on the side waiting for a good dip only to get in...What a rally so far, 2539 to 3303....( and this is a bear market)..anyhow enjoy the day & the holiday..cheers..

TRUNCATED WEEK AHEAD

Markts have surprised all by huge gap up leaps it has taken , driving markets away from major resistances. 3150 will be area to watch this week 3330 on the higher side, though being a truncated week , care should be taken in trades...Technically i feel most charts are in overbought zone and reaction from 3300-3400 resistances zones can be fast & furious.. As at bottoms buying was recommended for traders/small investors..with this 4 weeks rally, prices are not favorable for longs at this levels , as far as risk reward is concerned.Stay on the sidelines for a buy in good dip policy ..Let the big players play this out..enjoy the day..cheers.

TRAINING & NEWSLETTER FROM NIFTYSPOTTER.

We are planning to start TRAINING on MARKET TECHNICALS/CHARTING in Delhi ( our office)or on NET on yahoo messenger during weekends or evenings..It will be on Yahoo charts mainly & also anyone using live charts wanting detailed training on TECHNICALS / CHART SETTINGS , can have ONE TO ONE SESSION with us.each session will be 2-3 hrs. This enables you to trade like a professional w/o fear so as to maximise your profits specially in NIFTY.

We also are planning to start a DAILY or WEEKLY NEWSLETTER on NIFTY LEVELS AND DIRECTION..This is for all those who like to trade on their own..

Do send us a mail if you are interested for us to forward to you the details of the charges..enjoy the long weekend...cheers.
bhrajan@gmail.com
rjn_bht@yahoo.co.in

HUGE RALLY

Looking back to 1st week march when dooms day advocates were predicting doom for the world and our markets ..This is one spectacular rally up which slowly gathered momentum over the weeks on complete doubts 7 uncertainity... Even i thought yesterday that a retest of the tops is in line , but this huge global rally today was not seen...We are in stretched zone & reactions will be there too , Do keep booking.. cheers..

NO POST

Due to Blog update problem morning update could not be posted..hopefully its over now and regular posts can be done..Markets have opened huge gap up on G20 sentiments....cheers..

VOLATILE TODAY

Markets made a higher low in morning on great weakness , turned and despite weak global cues just covered the whole distance to retest yesterdays top..3070 was a resistance area above which it can retest the tops again..markets are overstreched still ( testing the experts daily with the swings) and reactions can be sudden also..G 20 summit also is there over the weekend..trade light , try to book ur profits in longs if any ..enjoy the day..cheers.

SIDEWAYS AHEAD.

Markets after a good rally up may go into a sideways mode to see where it has to go..it was a INSIDE DAY yesterday..3070-2980 is the range to watch for anybreakout...deeper down watch 2900 closely for trades for the month of APRIL..It being a truncated week ahead Volumes may be light. Trade accordingly..enjoy the day..cheers..

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