POSITIVE B4 THE EVENT TONITE

Markets all over are positive, especially the FINANCIAL STOCKS in US ahead of the event tonite, ..Money/momentum is on the bulls side making any & every dip being bought into..Yesterdays bearish daily candle may get negated if we break yesterdays high or close over mondays close..trade light /in the direction and let the event go over..above 3717 expect a rally right upto 3825 zone..supports still are ar 3520 below 3610.....cheers.

PERFECT RANGE GIVEN IN MORNING

Markets moved almost in the range given today morning in this blog..3600-3720.. Savvy & technical traders would have enjoyed the trades today..It looked like a typical trap today, both ways catching the baby bears & bulls..Hope ppl. visiting here enjoyed the range and made good profits..So what next..???????Nothing much to say except trade with technicals & charts whether you are a bull or a bear catch the lows/tops and make intraday money( but surely have a heart first for this kind of market and then trade.., )..cheers.

PS: Todays candle stick pattern ( DAILY ) is UPSIDE GAP 2 CROWS. ( This is a bearish pattern confirming to us of maybe a top & reversal, this gets negated only if tomorows we close over todays high ie 3717..)Watch this closely for your trades..

RANGE BOUND

Markets were range bound yesterdayafter the huge move of Monday , may be same today too , before some movement can be seen after tomorrows stress test event....3600 is the support area to watch and 3720 as resistance area for the next day or so. Trade accordingly..cheers.

EVEN STEVENS

Markets just about went from BEAR to BULLS a few times in the day today , giving ample opportunities to technical intraday traders to trade well ..Now 3700-20, is a supply area to watch ( dont be short above this)and deeper down 3520 as some sort of support area..Wait for a good dip to get in, otherwise do intraday trade only..we may soon be entering a turning point time zone , trade carefully hereon..cheers

RESISTANCE AREA

Markets have just about gone rising beyond anyones expectation , primarily on good funds chasing the momentum and taking it higher everytime it was felt that markets are stalling & a good correction is due where many people would like to get in...3720-3780 is a very strong resistance and supply zone.lower below 3520-3550 is a good support zone.The event ahead is the the STRESS TEST THIS WEEKEND..( even slight bad news is driving the markets up these days)..Trade with caution and intraday and keep booking your trading profits...Long term investments can wait for sometime to get in with a good correction..enjoy the day..

SURGING AHEAD

Markets gapped up and kept going up to 3650 area where it has now spent a lot of time...Above this area 3720-3780 will be a area to watch and below on signs of profit taking now 3520 zone will provide decent support.Do remember now the base with every rise is also moving up...Its going to be a tough month , not only for retailers but also traders as soon volitality may set in which may start giving very wild swingson either side..in the meanwhile ,enjoy the day..cheers.

ROCKING AGAIN.

Asia is quite up, SGX nifty suggests a good gap up moving quickly to the next swing level of 3648 ( as mentioned in a post before)..Wait and see where it leads to...Monthly S/R is 3350 & WEEKLY S/R is 3460, Range for this month could be quite high(2750-3950)..so trade accordingly..enjoy the day..cheers

BIRLASUNLIFES INVESTTIMES ARTICLE

The latest article in March issue of INVEST TIME on page 16.this is on RSI.
http://www.birlasunlife.com/distributiontsetIMS/new/Investime_March_09.pdf

RESILIANT AS EVER

Markets once again moved up stayed around 3440 zone for the whole day to make a decesive move at the last hour to give another spectacular close for the april series..We are again close to the tops of 3520...The long weekend would have made most close their positions and take trade with a fresh mind from monday onwards with 2 days holidays ahead..enjoy the long weekend..cheers.

SOME RETRACEMENT

Markets will open up due to global cues today & will retrace some of the sold positions of yesterday. It could be volatile due to settlement , and also with the long weekend ahead , participants may like to trade and carry light over the weekend. With a gap up on open market may not do much, 3420 zone is a watch area for today..enjoy the trade.. cheers.

PROFIT TAKING.

markets just about made a double top yesterday, broke the trading range and moved towards the weekly support of 3350 zone..Buy in dip may not have suited many today and unwinding went on till the end of the day...So where would the settlement be..we are almost near small supports and a bounce can take us all the way back to 3420 zone..Trade the trend & direction as it is a settlement day tomorrow...cheers.

SETTLEMENT BLUES

markets are just about trading in the zone of 3430-3520 & maybe spend time here for the next day or so of settlement also. This week is truncated with holidays and serious trading will start in May series next week. Trade light , in direction ,in this range..enjoy the day..cheers.

RESILIANT STILL

Markets still going strong,despite very weak global cues...it just broke the previous high to sell off hard ,...otherwise all sellouts were bought into..Best deal in town is daytrade in the direction & trade very light , swing /turn as markets turn..Take care ..cheers.

WEEK AHEAD.

First of all A VERY HAPPY AKSHAY TRITHYA..A detailed outlay for the market was given over the weekend.. Watch 3420 as S/R for this week.any This is a truncated week , with trading till 29th april only..the range could be smaller 3350-3550. enjoy the day..Cheers.

THE PATH AHEAD.

There has been lots of friends mailing me or asking my views on what i think is the path ahead, as many appreciate the 6th march posting i gave for buying into the fall for good gains..
Lets look into whats in store for us and what has happened in the last few weeks. Technically we made a low SEVEN WEEKS back at 2539, on 6th march '09. This rally is 7 weeks old from there. 8th week and around can be a turning point. Now what have we been doing..?????? We travelled from a low of 2252 to 3247..in october to early November.. From then on every rise has been sold into , leading to a final frenzy towards the 1st week of March. I had mentioned also that its very important that if the 27th oct low days close WHICH WAS 2528 is not breached , we can head up, and had also written that despite still being around 2550-2600 levels the prices of many many stocks are below oct . lows and requested all to start buying.
Lets move a little backwards.. This fall to 2252 started from a high of 3648 on 14/10/08, so if we look at the swings of NOV '08 and top of OCT.' 08, the only swing we have is 3247 then 3648......and we made in this run 3511..So as we never broke the oct low , will we break the oct top...Maybe not in this rally....This rally may either end below 3511, or go towards 3648 or make a lower anywhere in between 3511-3648...
The swing below levels are LEVEL OF 3300 ZONE now , break of which can take us all the way to 3150-2950 zone..
So the risk reward now is not in favour of holding longs overnight, play the momentum and savvy traders can look for shorting opportunities in the next week or so when or if profit taking sets in..Small investors /traders should wait for a good dip to get into this rally again, which may move up till beyond middle of this year after a good dip..
I hope this sheds some light for all those friends thinking ,waiting to see where we head..enjoy the weekend..cheers.
PS : You can always join our service for nifty future /options/select stocks trading in case you seek professional/technical help.