T A : FAKE OUT

yesterday and today are very classy examples of typical fake out by markets.. smart market participants who generally are big money like INSTITUTIONS/HNIs , etc normally tend to take markets higher than their tops or lower than their bottoms and then comes the sudden reversal which takes the markets quite far from where it was supposedly going thus causing pain and loss to smaller /retail participants.this normally will happen at the end of a trend which will confuse all those who never participated in the major move and now are keen to get in..do study this move of yesterday/today.. u will find so many similarities. from the past... LESSON IS: DONT ENTER AT THE END OF THE MOVE. cheers

DAILY TECHNICALS

we did not cross the NF 4659-64 , the level of resistance we said..and a sharp correction came..as the US /ASIAN markets are weak we can head now below 4525 towards the swing target 4464 , break of which can take us quickly 4368-4300 range..(NF has support at 4350-4210 range this month). the strong swing resistance of NS 4679 needs to be crossed deceisively to continue the UP momentum. cheers and happy trading.

DAILY TECHNICALS

nifty future should see a good resistance today in the range of 4659-64.difficult to cross this .. this should signal a slow down of the UP momentum(oil below $114 also helped this upmove again ) .nifty spot is heading towards the swing target of 4679.lets see whether we reach there.happy trading

NIFTY EXTENSION TARGETS

seems we are now inching towards a top ..nifty after a gap up(squeezed the shorts again) moved the whole day in a range which is around our area of 4605..till it broke out in late trade...will not recommend any fresh buying at this level rather better to keep posting profits and shifting to cash..or buy in dips only..break over 4725-50 will gallop the markets up...weekly N F targets/supports still remain same ,though this is a truncated week of trading. cheers

NIFTY FUTURE WEEKLY TECHNICALS.11th to 14 th.

nifty after a nice long ride from 3790 seems to be peeking off somewhere soon..so lets see what we can expect in the coming week.

CLOSE: 4547.

STRICT STOP & REVERSE : 4513

RESISTANCE :4664-4780

SUPPORT :4396-4245.

THE RANGE CAN BE 4690 TO 4280

best of trading

welcome all friends.

i would like to extend a warm welcome to all friends to this blog spot which i am starting. i will try to make this journey through market technicals fruitful and interesting for all vistitors of this blog by the knowledge of technicals that i picked up over the last few years. thanks and welcome again..

rajan bhatia
new delhi