MOVING AHEAD

Markets gave signal of profit booking yesterday..OI data suggests resistance in 4900-5000 zone for the coming days with supports around 4600-4700 zone ...trade with caution going ahead as 4950 may offer resistance..supports lie deeper down so trade light and in the direction with strict SL so as not to be caught on the wrong side of the trade..enjoy the day cheers

CONSOLIDATION DAY

Markets on cue started selling the Gap up (4950)implying that participants preferred booking profits and getting in again on dips..it almost halted at Monthly S/R..(now area to watch) 4780 is a strong trendline support zone of the market from the lows..Cross this time of 4950 will take us straight to 5030 zone..enjoy the day cheers..

POSITIVE AHEAD

Markets will party today due to DOW 13 months High made last night..Well yesterdays DATA of OI suggests huge OI increase in 4700-4900 puts implying the upmove further as CALLS OI have been shed..resistance can be in the zone of 4950-4970 for the time being with a possible target of 5030 whenever this threshold is crossed...keep booking your longs & buy in dips..supports lie in the zone of 4860 the MONTHLY S/R..Trade accordingly..cheers.

POSITIVE ALL OVER

Markets just about carried on doing their march from the despair and lows of last week to move near the MULTI RESISTANCE ZONE of 4900-4930..Remember this is where the breakdown started from..do book profits once in longs if the markets stall here and then wait for a dip to get in again..( Markets generally retest bottoms or make higher lows for bullish moves of future..)enjoy the day..cheers.

WEEK AHEAD

Markets just about moved back from their oversold territory top close last week at 4800 zone..4860 is the MONTHLY S/R( stop & reverse for the traders, above it bullish below it bearish)..The range of the week could be 4600-4900 around with 4720 zone as S/R for the week..Booking profits at highs & Buy in dips could be a stratergy for the coming week..enjoy the day cheers.

CONSOLIDATING

Markets just about moved to the resistance zone in the opening trade where many participants booked their FNO & stock positions in profit..Markets consolidated at 4770 for a while before moving up again.. supports lie in 4730-40 zone ..Next week will set the levels this markets will move to or react from ..Remember 4860 is the Monthly S/R..enjoy the weekend..& the gains of this week..cheers.

COVERING LOST GROUND

In 2 days markets reveresed most of the pain after jerking the weak hands real hard..I had strongly recommended to all visiting here to buy the panic and the dip for a bounce back to 4850 zone..& we reach there today almost ..ENJOY THE GAINS.One can start start booking profits as we gap up and move up..(Till 4900 is not taken out in close for a few days , take this as unwinding of severe oversold positions)4850-60 zone is the MONTHLY S/R.. watch that area carefully for any breakdown/breakout..enjoy the day cheers

ROLLER COASTER DAY

Markets just about roller coastered everyone..Anyone w/o charts or technicals would have been jerked hard both ways..4600 zone held and as the ATP of nifty was so near the Bulls just took the initiative from the Bears and caught them in shorts..triggering widespread short covering..4800-4850 now is a target area provided we remain over 4730..enjoy the day.. cheers

MOVING AHEAD

After a spectacular rally back yesterday , markets may be a little soft due to a profit taking of this rise & global cues. 4500-4600 zone appears to be the support zone as of now based on OI data for a ride to 4800-4850 zone ....keep booking profits in what you bought as we go up & buy the good dips and keep a strict SL as any slippage below 4600 could lead to 4400 levels or below very fast .enjoy the day... cheers

REVERSAL OF OVERSOLD

Markets were oversold deeply by close yesterday and just about unwinded its oversold positions by covering the whole fall of yesterday..Well this is what markets are all about..just about jerked all, forced losses ,gave margin calls , and then absorbed all the morning feed & moved back towards 4670 zone , crossing it with a little hiccup to move back towards 4750 zone above which 4850 zone will give resistance..OI in 4600 puts kept increasing as the day progressed telling us of the strong support of 4600 .. and to go long thereon for the day as Calls were dropping OI fast...Hope friends would have taken the cue in the morning and made money in any/everystock /Nifty today..we were oversold..cheers.

IS IT OVER ?????

Markets today may just about recover some of its very oversold positions with help of global cues..We have been breaking every Lower swing & not crossing the High swings it makes from the last 10 days..FII selling in delivery ,thereby implying selling on rise..Well it has to stop one of these days as 2100 points already shaved off the sensex( we are oversold )..4670 is now a resistance zone and 4510 a support zone...deeper still 4380-4400 around is where this may stop...investments in select shares , in quantities comfortable to you can be done in 4400-4600 zone for the pull back to at least 4800-4850 zone....enjoy the day..cheers..

CARNAGE

Last 1-2 hrs of trade was nothing short of carnage, all technical levels of support just collapsed..It was unwinding all over specially in last 1 hr..Now What..Below 4550 we head towards the 4400 zone as this correction is now based on 3918 wave and its retracement with todays selling..4730-50 now happens to be the good resistance in coming days..Trade accordingly..cheers..

GOING AHEAD

Markets after the break open again to a global weakness still. Refer to the chart i posted on 24th october..4690 was a tentetive target based on the WAVE start from 4350..Below this We are moving in the territory of the wave which started at 3918..supports lie around 4600 zone for the time being for a pull back of some sort due to oversold positions, after which markets will decide the course of action..Structural change is already there for the 8 month ride up now..weekly S/R is 4810-20 with a range of 4450-5150..enjoy your trades..cheers.

WEEKEND DISCO

Markets did what it does best when FII's go in sell mode..huge selling every rise..as there is no one to support..a time comes when even DIi's also sit aside it seems and there is a free fall ..FII's had been selling stock futures for quite sometime & the first sign of weakness they unloaded the Weak index heavy weights, pushing nifty to those depths that no one was ready to wait for to buy..Panic days provide great opportunity to value pickers ..Hope select picking is being done by people who unwinded at top (I feel bad for guys who kept waiting for 5250-5300, never booked & also did not take 5080 as S/R)..Anyhow its a long weekend , will post some charts during the week to see where we are headed in coming days and weeks..cheers.

GLOBALLY POSITIVE

After 8 days of relentless selling some pull back is there today as expected..What a Mahurat trading...?????4900 zone will remain a strong resistance and 4700 zone the support ..Markets should consolidate in this zone , so trade the zone carefully till there is a breakout/down..trading may be subdued and some unwinding later may be seen due to the long weekend..enjoy the day cheers.