BREAK DOWN

Markets seem to be in a frenzy after breaching 5000 on the lower side..We could have touched 4850-60 zone (Budget Day start ) very easily..but it just halted at 4900 ..Markets will bounce back from this zone to maybe the 200 DMA or 4980 zone..before deciding what to do..Any picks at yesterdays lows should be booked as we rise..This pain is not over till we dont close consistantly over 200 DMA..Trade acordingly..enjoy the day cheers.

SELL AGAIN AT OPEN

Global cues are not condusive fo any rise , thus prompting sell all rises..Gap downs /ups are becoming the norm as volatality increases..Today again markets will open low and may test the recent lows again..The range is abt. 5000-5100..breach of which can take markets +/- 100 points ..pick few select stocks as things stabalise in & around this range..cheers

UNSURE CUES

Markets went to retest the recent lows & bounced back from there to almost recover the gapdown..5000 still holds the key in close breach of which can take us much lower..Watch 5030 for weakness today& 5090 as resistance zone cross of which can take us to 5160 zone..Be nimble footed and trade light till some sense comes on direction..enjoy the day cheers.

WEEK AHEAD

Markets are again in a sell mode failing to stay over 5200 in close..So what next ???? 5100 could be the S/R zone for the coming week with a range of 5000-5200..A few closes below 5000 can take the markets to retest the 4800 lows....trade accordingly..cheers

TESTING LOWS

Markets corrected the fibonnici correction of this upmove to surge back..5100 zone provided support 5200 zone should provide some resistance..The range is almost set... a BREAKOUT/IN from this range may take plave in the coming days...trade the range till then ..cheers

RANGE BOUND

Markets having gotten over the euphoria got back to its routinne business and gave the requisite retracement the markets so deserved by way of profit booking...5100-5200 should be a consolidating range break in/out would give the nessary short term moves..trade accordingly..cheers

BEARS BUTCHERED

Markets after being oversold last week..( remember had written next week could be a different story)opened at S/R of 5080 & just about surged ahead with the EU news to touch the upper range of 5200..As it has recovered lost ground quickly it should consolidate to attempt the old highs if it manages to stay over 5200 for a few days..Do book profits in your longs & the dips for buy..enjoy the day cheers

WEEK AHEAD

Markets took support around 5000 zone and may make a retracement this week ..4900-5200 could be a range with 5080 as S/R for the coming week..Markets may react from the tad oversold zones..Trade with caution in the coming days and keep booking your profits on the longs initiated as we go up..enjoy the day & week..cheers

MELTDOWN

Just last month we were looking at NOISE of 5600 plus targets ..now we are at 5000...typical of market jerks..so whats happening..Its a routine correction of the rise from 4667-5400..4950 zone is 200 DMA or 61.8 % retracement of this rise..break of which , we can then drift to 4900 around (THE BUDGET DAY TAKEOFF)..on panic days one can start part investment for short term into select shares one likes..Next Week could be a different story..My advise here of being a trader for a few days would have helped..Watch 5000 for support today..cheers.

RETRACEMENT

Markets bounced back from the support zone of 5050 to close at the top of the day.The global cues are still negative and Daily charts still indicating a sell along with weekly charts ..that will keep the pressure on the markets..Break of yesterdays low can take us deeper down..5160 is a resistance over which will be 5200 zone..Be a trader till this sellout does not stabalise..This is a correction of the move from the lows. for today 5080-90 should provide support ..enjoy the day cheers..

PS:This is for sunil talreja..
sunil , your buy yesterday was good keeping in view longterm as this is a commodity..your next question of when to buy long term..well my take is Markets always give a huge huge jerk at least twice a year..when the correction is for 3 weeks or over..buy then what you like for long term investments..you are safe then..

HUGE JERK

I hope all friends following this blog would have been cautious as i had been writing from the last few days that global cues are lacking and break of range 5200-5300 will be the cue..Markets will GAP DOWN on open today at a support level of around 5050 around below which 4990-5000 should provide good support for a small bounce back..resistance will be now at 5100 & 5150 which will be difficult to cross quickly..Break of the low made today will augur more selling to test the 4900 around zone..wait for the markets to stabalise in the next few days for any investment ( NO ONE KNOWS WHERE IS THE BOTTOM)..BE A TRADER in the mean while ..happy trading..cheers

C0NSOLIDATING

Markets are consolidating in the 5200-5300 zone ( OI data also suggests build up in the puts/calls of these strike price) to see whether it can have steam ahead to cross 5400 & move forward or needs more unwinding to consolidate much lower..Watch this range for break out/in , in the coming days week & trade accordingly..enjoy the day cheers.

WEEK/ MONTH AHEAD

Markets still showing weakness despite recovering from lows /selling...global cues still missing & still weak....Watch 5270 zone for this months /weeks S/R , with a range of 5050-5550 as monthly outer range & 5100-5400 as weekly outer range..Take trades with SL's as coming weeks could turn volatile. enjoy the day & the week cheers..

RETRACEMENT TODAY

Glabal markets stabalised at our support levels of 5200 around & our markets after consolidating yesterday will also move in tandem towards the resistance zone of 5270-90..Do book profits of longs initiated to enjoy the weekend..Next WEEK/MONTH could be a NEW CUP OF TEA...enjoy the day & the weekend..cheers.

SETTLEMENT DAY

Markets are weak & settlement day could be volatile..5180-5200 zone is a support and 5270-90 zone will be resistance.. Trade the ranges with strict sls in the coming days before markets again show their hand..enjoy the day cheers.