SWINGING DAY

These last 2 days have been a great lesson for all who follow technicals & swings..Markets dont respect what experts say ..it respects levels ..Keen followers of technicals can sense these moves..BREACH OF 5050 started the slide yesterday for app. 250 points.. Coming to technicals despite deep correction due to momentum , markets respted the 4850 MONTHLY S/R , to close abt. 100 points above that..News/Events are just excuses for markets to unwind it heaviness & fatigue..For traders the (SELL ON RISE BUY ON DIP WORKS..)what next..lets look over during the weekend some charts to see where we are headed..enjoy the weekend cheers.

UNSETTLEMENT DAY

Yesterday became a UNSETTLEMENT DAY on a SETTLEMENT DAY..due to DUBAI factor as being flashed all over..The fact is 5130-40 zone had to be crossed and close above for markets to move ahead..The hesitancy was obvious & Yesterday it got the trigger to unwind , making many expert stalwarts propagating bullishness vanish..( they will hibernate now) The policy of sell the rise and buy the dips holds good once again..Yesterdays mayhem has done a structural damage to the market..It will take a few days to work out whether this halts around 4850 zone or goes deeper..A small bounce can be expected when we gap down today from the oversold zones..(avoid shorts here)..enjoy the day cheers.

SOMBER DAY 26/11

Today is the day to pay tributes to the Innocent people who died & the Very brave who sacrificed their lives for our country in the carnage of Mumbai ONE Year BACK...Hope the Government & our concerned gaurdians wake up to do their duties ie to take care & protect the citizens of India. A special prayer for KARAM KANG , the BRAVEHEART GM of TAJ , who by his steadfast & exemplary courage set an example of service and courage for all of us. The day has now been etched now in our minds... JAI HIND

SETTLEMENT BLUES

Despite nervousness the markets shrugged of the Asian blues and moved ahead towards the 5130 zone, where a little profit taking came in from the weak hands..We have again closed above 5100 and will attempt 5180 over todays high in the next few days..5080 becomes the watch area on the way down, (the key to profits is keep booking your profits at highs and wait for dips to get in.......) enjoy the day..cheers..

UNSURE RIGHT NOW

Global cues not withstanding, Markets are just about unsure right now on the direction going forward..5050 offered support and deeper down 5000 around should be a support..Markets have to cross the threshold of 5130 around for any upmove towards 5180 going ahead..Take trades as per your risk appetite as the 2 days to settlement may be swinging choppy too..cheers

CONSOLIDATING

Markets again are trading around 5050 zone, trying to hold supports there..5030- 5130 could be a tentative range ,break eitherway could be small break out..trade accordingly..enjoy the day ..cheers.

CONSOLIDATION AHEAD

Markets are poised now at 5100 levels with a range of 80-100 points either way for the next few days. This being the settlement week , volatality can be there so be sure of your SL's in your moves...There is movement in select stocks , keep an eye for them in days ahead..(Dont get confused with wave counts & double talk etc etc , Take your call as its your money)..enjoy your trading cheers.

SURGING AHEAD

Markets added to the gains of friday & closed over 5100 after 23 days..foxing many who had been expecting a slide below 4900 on friday...200 points app. from low of friday..5070-80 is watch area on dips and 5150-80 a resistance zone in the coming days ....enjoy the day cheers.

WEEK AHEAD

Markets made a major move back towards the recent highs on friday surprising many ..We will now be doing TRIPLE TOP here in intra charts..Markets have to cross 5110 & above in the coming week failing which it may drop back once again to test lower range..This week 5030 is the S/R zone and the range maybe 4900-5200..Trade accordingly but keep booking your profits and have strict SL's in longs..enjoy the trade cheers.

SPECTACULAR RALLY

Markets just about stopped at 4930 & did the reverse catching many with shorts & trapped them at lower levels with its speed of reversal....we close above 5050 levels..& Monday should be a good day again with little help from global cues..Hope all enjoyed the calls in the blog in the last few days and were able to make a killing..enjoy the weekend cheers..
PS: New friends visiting the blog can go through the analysis of the last few days to catch up with the trend of the market.

SETTLEMENT WEEK

Markets gave the CLASSIC JERK yesterday due to sheer lethargy at higher levels as no positive cues were there to take it over 5100..Today it may find some support around 4930-50 zone or a little deeper , for a small bounce back & then set course next week as to whats on its mind. NON CLERANCE OF 5090 does not augur well for the BULLS..Keep trading till then..enjoy the day cheers.

PROFIT TAKING

Hope people visiting my blog would have used the levels of 5050 for the Trade today..(We just refused to cross it and then fell hard..)The sell signal was generated yesterday below 5050 was a target area of 4950 zone once markets break below 5010..Hope longs were booked in the last few days and shorts closed today..4930-50 is a old support zone below which ??????? range given already . ..Buy on dips will work again for patiant traders....Enjoy the day..cheers

SOFT CUES TODAY

Markets all over are soft & for us the area to watch still is 5050 zone..The range still is 4850-5250..Stratergy for the day could be buy in dips & trade with strict Sl's from here on..(Profits Booked are the only money gained)..Trade accordingly..enjoy the day cheers.

CONSOLIDATING

Markets are not relenting but just consolidating..5050 zone emerges as S/R zone now .. This zone been held in close now for a few days..Breach of this area in close is not good for Bulls..Targets could be a range of 4850-5250..trade accordingly... cheers.

CRUCIAL ZONE

Markets again are poised at crucial juncture, If it does not take out 5100 clearly, profit booking may set in..Break of 5010 this time may take us into a little deeper correction..Cross & Close over 5110 can test the previous highs of 5180- zone.Trade accordingly..cheers