WHAT A DAY

The markets became volatile right from the word go and traded in the range written in the blog today.....2750-2630,,,, hope all enjoyed todays call and again it proved to be a traders day.., Some amount of help is reqd. to push the markets to 2860 and above zone..Otherwise it may just start drifting downwards again..Lets hope some cues come from overseas markets ..weekly range pls. keep in mind for trading...take care cheers ..

TRADING RANGE

Looking at the chart above we are looking at a range of 2750-2870 and supports at 2630 zone.The TSI has turned positive but needs to cross zero to gather strength for any upmove..( the weekly range already given below ).The melt down over the weekend of CITI GROUP is having its effects on the Asian trade today,CITI incidently has good holdings in equities all around including India.Hope all turns out well, otherwise another round of liquidation can start in Asia etc.Trade with caution, as this week has lots of news coming, hopefully positive ,trade with the trend..Cheers.

INVESTTIMES ARTICLE..(NOV issue)

The article in BSL's INVESTTIMES in the november issue..the link below.page 52
http://www.birlasunlife.com/distributiontsetIMS/new/Investime_Nov_08.pdf
Hope all enjoy it ..cheers..

THE WEEK NEXT WEEK.

Asia up, India well up, US , despite weakness proppped up...Did i write buy select stocks, and indicators severely oversold and 7 days of fall....& we are just there ..( just recaps from last 2 days views) of hope my views are helping visitors to my blog become adept traders as thats what markets wants us to be for some time to come. The target clearly was 2750 , we just about reached there, and if we hold 2680-60 and deeper 2630-40, we can surely head for 2750 , and then to 2860 range, remember that gr8 support area which will now be the big resistance to cross....in case of move over 2860 maybe we head for targets like 2920-2990 zone. The broader range for this coming week is 2500-2900..Trade accordingly...enjoy the weekend ..cheers.

SURPRISE SURPRISE

Despite huge bearish calls by many experts specially after the US markets crashed of nifty falling to sub 2450 range and below , did not help their cause as markets did the unthinkable , moved up from morning trade only and despite heavy sell off regained all lost ground to move over 2700.., making them hopefullyto wonder as to what happened.Technically , markets had unfolded todays move yesterday and i had pointed out that the late cross done by the market of days high and severe oversold position and today being 8th day of the downtrend,..the move up over the pivot will be towards 2750...We surely are heading there..Hope all visiting here enjoyed the call..cheers.

PS again a gr8 day for traders with unbiased mind and following the trends.App. 400 points of NIFTY.

WEEKEND BLUES

Finally the US markets after lots of wait broke their lows yesterday. Asia markets are weak and CRUDE ........ (god knows where it will halt, good for the world.)..Now can we say that lows of 2008 are already made for the whole world & the BEAR RALLY can resume.Lets watch tonite & start of next week for the cues...I think we are almost there.Next few days will confirm this or if we slide further to test the october lows.., watch 2470 zone for support today & we will complete 8 straight days of fall today. .. 2563 is todays PIVOT for the day and cross of 2582 can take us to 2750 zone...Trade accordingly...cheers
PS: will look at some charts during the weekend for more cues and targets etc.

FINDING SUPPORTS OR HIGHER BOTTOMS.

Despite huge bearishness around our markets did go below 27th october, monday close, traded for some time and smartly bounced back despite repeated selling, closing smartly at days high and over 2524 the close of that fateful monday....Bulls did come in to stop the free fall , and it looked like short covering started at the end..Its was important for market to breach and go above 2575.80 today only , and it did 2582.85 in dying moments. If todays low holds for the next 2-3 days, we will surely see a decent rallyup due to WAVE C being formed from here... .Watch & trade accordingly..Most stocks from the Index were at very attractive prices again..Indicators short/medium are very oversold & TODAY WAS THE 7TH DAY OF THE FALL....CHEERS

WASHOUT AGAIN

Markets all over have plunged , and will trigger our market too to gap down.Falling markets have no supports but still supports lie in zone of 2524 and further down at 2468. Select stocks where profits were taken at tops can be picked up today/tomorrow as per your risk appetite as they will again be available at attractive prices with todays open.This is still part of the bottom formation & consolidation , where markets go and test the recent bottoms to see where participants are finding the balance.As markets this month are rewarding both ways , be a trader this whole month .Everyday market is rewarding, so no need to take risks , just follow the trend of the day...CHEERS.

SELL OFF AGAIN

Markets in India despite weak Asian cues ,hesitated and then took off and retested the tops made at 2771 zone, where selling came slowly but surely.The selling then was relentless till the end of day and markets went below the support levels of 2630.Overall if one noticed in the last 2 days the rise was on lower volumes and still the selling is on higher volumes. IT WAS A TRADERS PARADISE AGAIN , FOR PEOPLE FOLLOWING CHARTS/PATERNS (simple yahoo charts , links which are provided in my blog too would have enjoyed the ride )..What next, lets see it tomorrow morning ..take care ..Cheers.

ANY BOUNCE BACK FROM HERE ???????

We are at a very critical levels 2630 zone which is basically 61.8% of the total rise from 2252-3240. Point to be noted here that the WAVE B generally does a 61.8% correction of WAVE A,failing which it can then trail down to around 78%, failing which it can take us all the way to october 27th low or lower.Now in case we hold around these areas, get ready for a good ride up for the WAVE C. 3050 is the NF S/R still . trade accordingly..(Asia is in negative territory still)...lets watch the next day or so closely for some cues & trade accordingly..cheers

TRADERS PARADISE

I had said at the begening of this month , that November will be a month for traders, all smart traders are taking positions with the direction on a intraday basis, squaring of at EOD and starting afresh the next day, ( much better than being biased , taking a postion short or long, and then after some up/down YO YO by the market nextday squaring off near the buys ,with next to nothing profits). Traders who squared off yesterday got the trade DOWN -UP-DOWN-UP-DOWN.. today , even a novice would have caught it well, and would have made good money.. Incidently markets after breaking 2750 took support around 2670 zone today..Trading should be the mantra for a few more days/weeks maybe..enjoy the day ..cheers..

RETESTING LOWS

Markets all over are retesting their lows again and again and trying to get to the next bottom , which could be near/lower/higher than old lows.There are no positive cues coming from any GOVT. now and it seems all the guns have been fired and markets now will have to find its own path despite all the bad news coming daily from all around.Our levels to watch will be 2860-2900 on higher side and 2750-2670 on the lower side..Trade accordingly as global cues today are soft to negative..cheers

SUPPORTS TESTED

Supports were tested at 2750-2700 zone today after the markets slipped in the opening . Smart recovery was made in last hr. of trade making markets go for a while went into positive territory, then came the profit taking in the end by intraday players.It seems at lower levels participants are not ready to press shorts and are just covering their short positions of the last few days. Today was the 8th day from the top ie 3240, so shorts were cautious and covered at the first sign of pull back.Positive overseas cues will take us to at least 2860 zone cross of which only we can think of somekind of rally till settlement. CHEERS.

SOFT MARKETS

Markets in Asia are just about doing nothing and are flat to negative. Levels have been given for next week, in case markets do not sucumb to pressure in the next few days ,it may go to retest the recent tops made at 3254-3240, trade accordingly...Cheers.

TOUGH WEEK AHEAD

it will be a tough week ahead and could be a traders nightmare if one is caught on the wrong foot.I will advise all to trade with caution and see the trend before plunging resources for a longer committed play.2900 ZONE seems to be the S/R for next week. We had ended the week on negative grounds with wild swings & as US markets too gyrated wildly on friday ending finally in negative territory , it will be worth watching the Asian start for the next weeks cues.Watch 2760 closely for weakness downwards.& 2920 for upward breakout in NF..happy trading CHEERS.