TECHNICALS FOR DECEMBER.

November is now behind us and we move into December with a very sombre note after the Mumbai episode. Just lost track of technicals etc in the last few days..Anyhow very important to watch 2850-60 zone .This will be the S/R for the month of December. The range could be BTW,2050 to 3650 ie end to end. Weekly technicals suggest watching 2750 zone , range being 2900-2600. All figures given are for NIFTY FUTURE. HAPPY TRADING ..

RESILIANT INDIA

Markets closed in positive despite the worst possible enviroment in MUMBAI & the battle with terrorists still raging hard at all 3 places..Point to be observed is we closed over last months settlement (october)..( this has happened after sometime..)..2718 was where the markets were taking support from ,and then making their move upwards towards 2760-80 range..Do not wish to write anymore today as my heart is still with our security forces in MUMBAI..waiting for this nonsense to finish..lets all pray..good day.

SETTLEMENT DAY SWINGS

Watch the pivot today for cues ie 2718, as market could swing anywhich way.Supports at 2690 deeper again at 2640-50 and resistance at 2760-80..best is to see how trade unfolds and take it from there. Keep the trade size low today & let the settlement and the Mumbai incident pass over the weekend.Cheers.

A VERY SAD DAY.

This is one of the SADDEST DAYS i have witnessed in many years when through out the night we saw our countrys financial capital being held hostage so ruthlessly by a bunch of terrorists. My Heart goes out for all the brave Maharastra policeman, defence/ security personnal and innocent employess/guests /bystanders killed or maimed by this incidence. I hope our central goverment & specially our politicians rise above petty squabbles to finally do something for this country , specially against terrorism. JAI HIND.

WHAT A DAY

Markets never broke the 2630 levels given b4, tested the base and then moved straight over the pivot 2690 for a run for the resistance ie 2750-60 zone..HOWS THAT FOR A RANGE CALL...The bias seemed distinctly negative today to many , and they went short , got trapped and had to pull the STOP LOSSES in the end ..longer timeframe in intra day charts was warning from the morning of a move up, despite negative cues,thats why had cautioned friends visiting my blog to be careful of this volatality and that will damage the mind and pocket...anyhow good profits again for intraday traders(a few of my friends included , trading with me today) following technicals/ charts..lets see , tomorrow again is a new day..cheers.

UNDECIDED

Markets are undecided about their direction, due to lower participation near resistances...& also still not convinced about leaving the lows behind...The pivot for today is 2690 zone with 2580-90 as a support zone and 2750-60 as resistance zone ..Keep your trades on lighter side till markets make a decesive move.We are into the last 2 days of settlement and can witness swings , so trade intraday carefully so as not to be whipsawed either way.,,happy trading ..cheers.

ROLLER COASTER RIDE

Markets opened with a gap up and immedietly started selling , held on for a while and then as the day high was not cleared for over 2 hrs , it just gave way, loosing all the days gain to go much below yesterdays close . ITS A CLASSIC REVERSAL DAY TODAY. Markets below 2750 came teasingly close to my support of 2630, and it came there so easily that it is a tad difficult to accept .. Well weakness is verey evident and lets look at the charts again to make a semblence of what happened today & whats in store from here.. Hope all took profits of the longs or had TSL today on their longs...CHEERS.

GLOBALLY POSITIVE

It seems the bailout package of CITI , announced yesterday provided the cue for the upward rally.Asia is following US news again.Technically speaking I had written that we should not close below 2524 & we did not and moved up to over 2630 quickly from there. The target always was 2750 -2860-70 . People who are long in FNO can start boooking around the resistance zone or keep strict TSL. KEEP close below 2630 as TSL for all longs for times ahead. Short Term indicators are showing positive cues, in case we are able to consolidate and keep making higher lows the bear market rally is in place. lets watch the next few days for the cues.enjoy the trade today ..cheers

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