BUDGET BLUES

Markets zipped on opening on global cues & then forged ahead on very low volumes to correct at EOD..Where next..Let the budget tell & set the course for next 2 days or so..Till then all the guys who are flat or w/o any positions ..enjoy the VALENTINES DAY.. forget markets -levels -technicals..Enjoy the weekend..cheers..

ZONE PLAY

Seems Nifty plans to remain in the range of 2880-2920 around to wait out the EVENT of interim budget on Monday..Can there be some good news for capital markets which may just give some boost to 2960-2990-3040 zone..maybe ..Failing which as we are a TAD overbought , the journey south may start..Trade low/intraday ,avoid stock longs for delivery..cheers..

WEAKNESS OR CONSOLIDATION

Are the markets consolidating in the range of 2880 range or is distribution/ unwinding going on at higher levels..Buying conviction is lacking ...markets kept testing the bottoms and closed near bottoms..( Tough markets to trade with narrow range and quick volitality)The range of 2860-2960 is being traded in now..lets see where we head in the next few days..cheers..

HEIGHT BLUES

Markets despite recovering yesterday , seems to be nervous at these levels..Asia is weak so will we be,..The markets were a tad overbought and when it does not attempt crossing of highs 2960 zone it surely likes to test lows..2860 zone was crossed after many days of struggle and break and close below that will unnerve the bulls.. Trade light for a day or so and see where we head..Cheers.

CHAK DE DAY

Our markets opened weak on global cues took support again at 2880 zone, spent some time there to finally move up again to close at the high point of the day, though it was tricky at the top, it stilltook a decesive move in the last 5-10 mins forcing shorts to cover.Well the range is set now..... 2880-2960, break either way will take the markets 70-80 points quickly..in either direction.. Trade the direction, though would advise caution here & only intraday trades with smaller lots..enjoy the day ..cheers..

REACTION ZONE..

Seems despite all the noise created by stimulus package etc..2950 remained the reaction zone( we were overbought) todays cues too say we will react again ( we reacted once yesterday too from there)..2880-2860 is the area to watch again today..and deeper down at 2810..Resistance now is 2950 , cross of which only can take the markets to 3050 or above..Hope visitors to the blog , cleared their longs/ stocks and can watch again to see where they can enter..enjoy the day ..Cheers.

WHAT A DAY

Market slowly moved spot on to 2950 zone to react as it should have to profit taking then taking support again at 2890 zone to bounce back for the event tonite in the US..Looks like they have squeezed the juice out of all shorts ( lower rating puts bought in 2750-2800 area completely finished)..so what next..Nothing much today as its already over and lets see what tonite brings..enjoy the day ..cheers..

REACTION TIME

Markets after a 200 point move may give some kind of reaction around these areas..2950-2990 is the resistance zone ans 2860 and deepar at 2830 now is the support zone...keep booking profits , wait for a dip to get in ..cheers.

RESILIANT TODAY

Markets almost stopped at 2880 zone ,stumbled , crossed and moved on to the 2910-30 zone..despite all world indexs being weak to negative.. Care should be taken at this or 2950 levels as the reaction could be expected in this area..We are over bought in intra charts..so any more rise please clear you longs /stocks and maybe stay on the side for a little while..cheers..

TRICKY AHEAD.

Markets move into resistance zone immedietly on open at 2860-2880...and above this 2910-30 will be the reactive range ..supports lie in range 2770 -80.. keeping the EVENT in view iestimuluspackage& its clearance ,could just rock the cradle either way going forward..Low volumes suggest WAIT & WATCH POLICY..Trade in small qty. for a day or so but definitely in the direction of the market..Overnight positions can be avoided for a day or so ,soas not to be caught on the wrong side of the trade..enjoy the week..cheers..

WEEKLY TECHNICALS.

The Markets have been trading in the range as shown above(2750-2880)..The speedline resistance also suggest that cross of 2880 will Take the markets upwards , as it also made swings which were higher lows/higher high ( again watch 2880 after reactions..)..2950 or below will give a reaction again, The supports which the markets take then will unfold the market moves in coming times....BIG BUYERS still vary( low volumes) and will watch close over 3240(in case of sudden rush upwards) to initiate trades..The stimulus package & its reaction also gets over by Monday/Tuesday..Hope this helps all for trades next week..enjoy the weekend..cheers

UPPER END NOW

Markets moved towards the upper end of the trading band(2750-2850) where some small reaction came..but still managed to close at the upper end of the band.Can it break out now on the upperside or will reaction be around the corner again..next week will unfold the whole drama. will look into this over the weekend for the clues with charts & technicals..enjoy the weekend..cheers.

STILL RANGE BOUND

Markets again dipped to take support at 2750 zone , however it is slowly slipping downwards as far as highs is concerned..ie from 2860 zone, now untill & unless it does not cross 2880, upsides are capped..The sideways trading is taking its toll by way of STOPLOSSES both ways..Trade less or maybe dont trade this sideways market and enter the breakout/in ..enjoy the day..cheers..

ANOTHER RANGE DAY

Markets again halted close to 2750 zone to recover with short covering..we have closed below 2800 & if not crossed and close above that we can expect some more slide downwards..These days due to tight range maybe more sl's will be hit than profitable trades..trade with care and watch the range break..cheers..

RANGEBOUND

Markets just about doing nothing, making small moves up/ down now waiting for something to happen for it to take a decisive move..range 2750-2850 still..All should note one fact here that the fall from 3147-2660, we have not crossed 50% retracement so far, despite many days gone by ..Trade light and with care..cheers..