PARTYING AGAIN

Markets again surprised everyone with a late spurt breaking the channels I posted in the morning for all to see ie 3380 then 3420 closing above it..So where do we go from here, well cross of 3500 can take us all the way to 3650-3750 zone, and failure this time makes it a DOUBLE TOP , inviting selling again ..enjoy the day..CHEERS

FALLING CHANNEL.

Markets have been trading in the above FALLING CHANNEL last few daysas shown in the above intraday chart making lower highs/lows.in the process, literally unwinding on cue at every rise...The chart is self explanatory, follow the pattern, just remember any close below 3300 will invite unwinding..enjoy the day..cheers.

RANGE BOUND STILL

Markets still moving in 3400-3300 zone , making lower highs/lows..closing in the negative today. Serious selling still not emerging and intraday dips still bought into..Caution from now onwards for any close below 3300 will trigger massive unwinding of longs & long awaited correction will set in..close above 3400 now can maybe resume the journey up..enjoy the day cheers.

STUCK MARKETS

Markets just about doing nothing , closing at same area after the whole day of volitality.its becoming like a buy in intraday dip and sell on intraday rise..This routine is going to break soon , which side cant say...watch 3300 at bottom and 3450 at top for some cue..enjoy the day cheers.

VOLATILE DAY

Markets just about took support at 3300 zone again and bounced back , making a lower top for the 3rd day, then giving up the gains..closing almost around the same zone for the 4th day in a row...Neither the gains nor the losses are of any consequence in last few days..its closing now below 3400 also..the range is being set slowly in 3100-3700 with 3400 as the S/R..enjoy the day..cheers.

GLOBAL SOFTNESS

Six weeks of continuos rise and the last few days of distribution finally seems to be giving way to profit taking globally and we too should be reacting to this. Had been writing before too that profits should be taken and to wait for good corrections to get in. BE PATIANT. 3410 zone will remain S/R of this week and below 3320-30 supports lie in 3260..Trade ccordingly.cheers.

VERTIGO HERE

Markets have been continuously in a distribution mode from the last few days..Are the bulls tiring and bears waiting to pounce..Lack of cues will give momentum to bears..we have made LOWER TOPS/ BOTTOMS today..Break of 3310 will take markets deeper down on unwinding by long term bulls..support of 3350 zone can again makemarkets attempt for 3420-3450 zone or above on buying supports..Global cues will tell whats in store..enjoy the day cheers..

WEEK AHEAD

Markets moved in the range 3350-3500 last week, closing at the lower end. 3410 zone is the S/R for coming week,with a range maybe of 3200-3600.The percentage gains of this rally was very good week after week for first 4 weeks, last week or so the markets have done just about nothing, maybe waiting for some more cues/news to set the direction. Lets see how it fares..enjoy the day.cheers.

SAVVY TRADERS DAY

Sorry guys , Just could not get time to post in the morning due to pressing work( new friends joining),.Anyhow markets were to retest tops , the move was fast , typical of tops & then after long the markets made a lower top and just stopped at the bottom..So what next..A major STAR(VENUS) turns direct tonite , this turned retro on 6th march and from deep depression/depths we are reached 3500..will it reverse the gains ?????next week will tell( we are overbought & very volatile here, the rise / falls so fast furious...thats why said non savvy traders take a break for a few days..)Watch 3425-3450 on the rise and 3310 zone below..close below that can take us to 3250-3200-3150 zone..enjoy the weekend will look into charts and see what can be posted..cheers.

PROFIT TAKING

Markets just about did nothing at open , and profit taking set in, open to close was a huge way down...is it a reversal day..lets see how it unfolds in the next few days week..all sectors got steam rolled today...Had advised in morning also that stay away , take a break....what more to say..Shorts rocked today...markets just easing the overbought positions..wont finish in a hurry..maybe its just started...My advise still is dont get sucked into this rally now..keep strict SL for longs.enjoy the day..cheers..

SMALL DIPS/BIG MOVES UP

Markets just about refuse to take a breather , this whole rally has not given more than 2-3 days correction at a time and has rallied real hard. Think most small /retail investors sold out their positions or took this rally for exit in positions stuck long back, leaving nothing to trade with from last 200 points or so..So please dont get stuck here again at these highs as this is a typical Smart money driven markets today who can reverse and turn as fast as they enter..Take a break..Only savvy traders trade this out..There will be a correction for sure , but from where it is uncertain in this momentum as all tech. Levels just getting broken daily..cheers.

DEFYING ALL TECHNICALS.

Markets reacted to global weakness and who could have predicted todays closing near 3500 with a open at 3311...every dip is being bought and we are slowly moving to 3522 zone. Bear in mind that markets have overcome every level of resistance till now. closing over 200dma is a strong message bulls have left today..Still stay away and let this ride over, better sense says wait for a good dip to get in..cheers.

DAYS AHEAD

Five weeks of rally put a high of 3417 on Monday,..3430-50 is still a supply zone over which 3522 becomes a very stiff resistance.. Result season kicks off with INFOSYS today ..Watch 3310-30 zone for weakness..Markets will be volatile in the coming days ,small traders /investors should wait for good dips to get in as this rally is overtly overextended.enjoy the day..cheers.

ROLLER COASTER

Markets doing what is expected, huge volitality and a great roller coaster ride ..Slowly this market is becoming Savvy traders market as it moves up/down so suddenly that takes ones breath away..Anyhow coming to the techs..The whole day was spent below the 3400 levels and a late surge to touch 11000 sensex and subsequent very fast unwinding has revealed nothing about the markets move except that players are nervous and despite momemtum are ready to unwind positions quickly..Area to watch again will be 3400-3450 zone or 200 DMA enjoy the holiday..cheers..

WEEK AHEAD

Markets are poised at a crucial juncture ralling so much for the last 5 weeks..There are strong resistances in 3400-3450 zone.. over which 3522 is a very strong supply zone..Major indictors are giving negative divergences in intraday/daily charts..There is huge talk of markets galloping upto 3700-3800 ..Care should be taken in judgement on such lofty targets, Nimble traders can trade well on both sides intraday and BREAK of 3310 NF this week could take the markets all the way down to 3200 or lower zone. will try to post some charts later on path ahead..enjoy the day cheers.