YO YO DAY WITH POSITIVE BIAS

Markets reacted to good positive moves in the US and continued yesterdays positive cues ,but kept getting knocked again and again to profit taking..The YO YO was due to settlement day and GOVT announcements coming tonite..Thank god this series will come to a end , also this BLACK OCTOBER '08. Will be remembered for a long time to come by all participants of the stock markets . Resistance is around 2780-2800 area and support at around 2670 ..break of which will give a quick 150 points move either way..Take care ..cheers..

POSITIVE SAMVAT

Markets world over it seems celebrated the the festival of lights DEEPAVALI, by giving a thumping single day gains.The script got written on friday when our markets trashed and then recovered after faltering once or twice..Nifty moved back from the extension area in the chart i had posted and all the buys of the last two days if visitors to this blog had done are in very good profits including FNO.As we may gap up again today ,resistance may come at 2800 area around..majority profits should be taken off the table for once and the rest traded with strict trailing stoploss. The range to watch is app. 2750-2914-3050 area for this week. Remember had written for weekly range that markets strong over 2800 and will take support around 2350 area. trade well and best wishes for the new SAMVAT..cheers.
PS. A interesting blog you can visit for nifty range is http://www.niftytopsnbottoms.blogspot.com/

HAPPY DIWALI

I would like to wish all friends a very HAPPY DIWALI AND PROSPEROUS SAMVAT2065.
We hope to look forward to better times in the coming months and year.May goddess LAXMI give her blessings to all of us ( sincerely needed by us this time).

ARTICLE IN INVESTTIME OCTOBER ISSUE.

link below for my article in the Birlasunlifes Inhouse magazine INVESTTIMES. (page39)
http://www.birlasunlife.com/distributiontsetIMS/new/Investime_Oct_08.pdf

HELL & BACK

What a day, no one knows now what is happening and why it is happening..only saving grace is that we recovered for the day and did not close again at absymally low levels..This surely will be the blackest diwali in history of indian stock markets as no one remembers anything worser happening level wise/price wise..Lets hope the last samvat ends today and the new samvat brings about some cheer..lets forget markets for somtime and enjoy the festival of lights...wishing all friends a very HAPPY DIWALI..cheers..
PS: WE HAVE COMPLETED 51 DAYS OF FALL TODAY, from 4649.

TRADING TODAY

Markets in Asia are still weak today morning, the pressure is huge and buyers may still be holding back the BUY CALL as to get more juice from these weak markets..do look at the charts posted yesterday and trade accordingly..CHEERS

NIFTY CHARTS- ROAD AHEAD.

The charts above are self explanatory, however CHART1 is the extension/progression chart from 5298-3750-4649 giving the targets till date.. .. The CHART 2 shows that speed lines connection 5298 to 3790 which is showing support around 2450 area , In hindsight it looks as if that When markets could not hold above 3250 and then failed repeatedly to cross 3300, it was as if waiting to test this SPEED LINE AREA..Also please note that the fall from 5298-3790 took 52 days(red line/days) & the fall this time from 4649 to 2525 is already 49 days old..(blue line days), so looking at the markets from any angle in the above two charts gives me a understanding that despite that fact that we are at all time lows.... the supportlines/time cycle/support areas ..& we could be near a end..Do study the charts , make your own anlysis, and take your call..This carnage too will end abruptly as the euphoria ended rudely in january..cheers..

PS. will welcome comments on the charts and analysis i post..

TRUNCATED WEEK AHEAD

Nothing much from the trade from US markets except that it was very volatile and it was not a washout as was in Asia , specially here in India. This OCTOBER MONTH will go down in history as the mother of CAPITULATION, for world financial markets and a huge watershed which decades ahead will be discussed by TAs, for clues and Analysis.
So whats in store next week, most people are seeking views and help of experts as to how to proceed...equity/commodities etc all giving no safe heaven????The fact is no one knows, but someone is buying..People looking ahead and with cash have bought in the last few days,including my wife, and will buy scrips if they dip more for trade and hold....People with Resource capacity & risk appetite only should buy here , otherwise just trade the trends with options ,NF, or one can do daytrades..The fact sadly is that most traders/investors world over play on the long side only as they do stocks ..and are not savvy in futures/options..thus their pain is more high as they dont play the short side of the market.
Coming back home S/R in NIFTY next week will be around 2800, with support at around 2350 & resistance around 3050.It being a Diwali week and also truncated , volumes maybe less..Take your call, will look at some charts tomorrow and try to make some sense out of them for future..cheers..

BLACK FRIDAY

Not much to say except total abject, surrender & capituation..heading towards a frenzied end.. No one thought we will come this far so fast..Support after support went crashing down..As there are only seller and no buyers , something dramatic will have to be done by GOVERMENTS to stem this rot. we are below the june'06, levels today , Prices at much more lower than at those levels ..Bad end to this SAMVAT..This is despodency at its peak..Take care ..cheers

BOTTOMING OUT

Markets will be bottoming out soon as this looks to be the last stages where everyone has just given up on the markets and despodency set in now with absymally low levels are being proposed..The Andrewspitchfork above is showing a tentative target, and this is matches & will join with a very strong multi year support line (2750 ) around which the markets can take support and give the much needed relief rally..Samvat trading is on tuesday and a turn of sentiments may be in offing soon. look at the support lines provided in the chart to plan your moves and calls..take care cheers...

ARM TWISTING DAY

Panic fall, Panic top and then back to the trend ie downwards was the order of the day..A traders paradise today , markets gave returns to both the bulls/bears though the day in the end again goes to bears..lets see how things pan out in the next few days till settlement..my advise to smaller traders is stay away till diwali ..enjoy the festival with family & friends and keep away..let the market settle down and then take your call, the supports given in the morning remain there till they are breached....cheers..

DOWN & OUT

Markets all over are bleeding including all commodities(GOLD GONE) today morning. So we will break the range at 3050 for the lower side with at least a target of 2850 as i had been mentioning last few days... A very strong support line now exists at app. 2750 levels(I never believed we will reach this level so fast), and if market takes support there, which i feel it should , we will retrace back to 3250 zone and any rally above this will take us to 3900 and above zone. Talking about higher levels today sounds nutty, but so was talking of 3600 & below at 6357..Take your call as per your holding capacity.. cheers

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