SOUTHWARDS AGAIN

Yesterday was move northwards, today southwards..the range 3050-3250 kissed both ways...Comeon guys .. whatsup??????? ...lets move on..next few days will be very crucial..if we break the lows , panic bottoms can be made as settlement approches..remember we are slipping from 1st day of this series ..trade carefully and with strict stoplosses as you can get whacked both ways in this madness...cheers

RANGE TRADING

When ever the end of a trend is coming , markets go in a range which slowly compresses till it breaks out on the reverse side...Is our markets behaving like that..as of today the range set is 3250-3050, yesterday we touched the top, we may go down and see where the supports are..there or above or below...next week or so will be defining moment , as next week settlement will clear many many positions and November series can start with its own direction & steam..The chart above is a daily chart and the speed line range is available for all to see..this should be a tentetive range of support / resistances for the time being..i have taken the complete fall from 4649 to 3046..one can buy dips from here on whenever one see lows holding..Take ur call...cheers

BULLS DAY

Markets moved spot on and stopped again around 3250 zone..break of which can take us over 3400. The footprint till now is higher highs/lows..lets see how the Europe/US markets fare..As Markets made higher lows , buy on dip worked well..savvy traders are getting trades both ways..not much movement in mid/small caps ...mainly action in index shares..hope people who had dipped in the shares 2 days back are in profits..will try to post some chart for levels tomorrow..do keep booking profits..take care cheers

RANGE SET

Markets world over are setting their own agendas /paths, ours for the time being is set in the range of 3050-3250 with a move of app. 200 points in case of break on anyside..the move of 100 points in nifty from the low in the late trade was heartening and what unfolds will have to be seen..Markets worldwise are in positive , so should we be today..watch the levels , trade cautiously..cheers

WHAT A DAY

WOW, is the word, roller coaster ride up/down the whole day , with the day going in favour of bulls in the end.. wait & watch for another day or so for any confirmation that this will be held..Looks like still every rise the funds are selling.... as at top of the day today even the selling was hard and severe..though halted at the low of yesterday..lets look at technicals in a day or so and trade with the trend for the next day or so ..right now the range is 3050-3250..any break either way should be at least 200 points..take care ..cheers..

SAMVAT TRADING

Last Diwali on Samvat trading the markets closed lower, nifty app.100 if i remember..this happened after many years & Many stalwarts wrote that this is not a good sign and the year ahead is going to be very tough. How right were they .... We are reaching another Samvat trading in a weeks time.. ..Is it time to look ahead, i think it is time now for people sitting on cash, to start picking up quality stocks which have weathered this huge deluge of selling well as they will be the ones who will bounce the hardest..Despite huge bearish outlook i feel the time is ripe for at least 50% investment ( this money may be locked for 6-12 months ).Take ur call, if Warren Buffet feels investors should come back, who are we to question that..Asia meanwhile is trading mix..Cheers..

MONTHLY CHARTS FOR GOLD

This is the Monthly gold chart which a friend of mine RAMA from chennai had been asking for..Hope my advise of no buy in gold helped..It corrected over $150. Right now its at 1st support and trending down..the chart is clear in the support/extensions targets, i feel with financial crunch all around, better to wait for some time for stabality to return to world financial markets to plan investment in gold..Hope this helps all friends visiting the blog..cheers

WILL THIS STOP

Volatality has assumed huge dimensions..Cboe Vix over 70 literally( unseen levels by many), the whole world financial order is disarry, best not to discuss any levels..Huge blood on the street, mouthwatering levels of stocks( yet only sellers )total capitulation, huge fear/abject surrender is the hallmark of last few weeks... R we reaching a end..LOOKS LIKE , for the time being..This is what Smart money/Angel investors look for and get in for the long haul again..Watch LEVELS around-- 3280 ---next week.. ..Above that sanity can return..3143 was the STRONG MONTHLY SUPPORT for so long , hope we close over that this month..3050-2995-2950 are good supports..HOPING FOR SANITY TO RETURN SOON,,,,,,,..Trade cautiously..cheers..

BLACK FRIDAY

It looks as if the stock markets performance script is well written for everyweekend , that there will be a good fall on friday so that any and everyone will spend the weekend in misery to find an ans. for this mad mayhem. This is a true picture of the Real bear market which has finally unfurled from 24th september..So today we finally wiped out all recovery again of yesterday and fell to lower depths.. this is whats been happening from the last few days/ weeks..All around all gains of the day were lost in the indexes world over.lets see over the weekend as to what to do now..think best is to not think about the markets and just chill...cheers..

WHAT NEXT

I had written a few days back that we have a target of 3140-50 or lower at 3100, where we may tend to take support, we met that target yesterday and bounced back smartly from there.. Severe capitulation has taken place in small/mid cap shares and many index stalwarts have also not been spared.If this low holds the correction which started from 4649 should come to a end. The next few days will tell, as any upmove does not survive more than 2-3 days. US markets last night gave a BULLISH reversal pattern( recovered all losses and closed in huge positive). Nearer home support of 3240-3225 should hold failing which we may retest the lows..Resistance to the upmove will be 3350-3500 for the time being..Our markets may trade flat to positive before it charts its course.Trade carefully ..cheers

ROLLER COASTER.

Huge global weakness crashed our markets too despite of huge sops from RBI yesterday evening..and then when all looked lost came the great bullish reversal..and what a rally..it was threatening to break 10k sensex ,,,and we travelled back to 3329.....from 3099....3097 is a strong support for this market below which 2995 is what the target could be.Markets have been recovering to deceive again and again with every new bottom, so will have to cross fingers to see how the trade pans out in the next week or so ..3240 is a crucial support level below which 3200 is there, as global cues are guiding us , lets see how Europe/US pans out tonite....take care cheers.

RAMPAGING BEARS AGAIN

The speed lines are quite clear..I connected 4000 - 3198 and see the result, we were to be out of woods over 3648 , alas the bears out again and the bulls just running off.. support was around 3280 level and deeper down at 3050-3000. Is it testing the lows again , or real fears of recession/poor earnings/redemption pressures which is leading to sell offs on a daily basis...I feel in bear markets when nothing helps and there is desperation/despair...we may be near the bottoms..keep cheery picking partially some stocks which you would like to have and carry for 1-2 years..Do keep in mind the rallies in bear markets are fast furious and dont get trapped into buying the highs..trade carefully..cheers..

DOWN & OUT

The 2 days gains just tripped out in a slow grind down in the last 2 days...very typical of bear markets where markets RISE FEROCIOUSLY, and fall VERY SLOWLY.. We are near supports now and if global cues are flat to slight negative , we may expect a recovery here too in a day or so. Lets look into some technicals tonite and will post them tomorrow morning..Hope all who took profits home would be ready to plow their capital again in the market..cheers..

SOFT AGAIN

Profit taking took place yesterday and may continue today too as Asia /US is slightly negative ..best is to wait and watch for a day or so & see what technicals unfold to take a call..trade carefully..cheers.

ARTICLES FOR INVESTTIME

Dear friends, BIRLA SUNLIFE ( wealth managers) Reserch team has asked me to start a series of articles for their inhouse magazine, INVESTTIME on market technicals /indicators/chartpatterns etc etc , for the COMING months... The first in the series is published and available . Do go through the link given below
http://www.birlasunlife.com/distributiontsetIMS/new/Investime_Sept_08.pdf
PAGE 10.
Markets did gap up , gave good profits and the call for booking profits and taking them home must have helped....do remember last weeks mauling by bears was huge and wounds will take some time to heal..lets see how things unfold in the next day or so and where we take support..cheers