RESILIANT STILL

Markets still going strong,despite very weak global cues...it just broke the previous high to sell off hard ,...otherwise all sellouts were bought into..Best deal in town is daytrade in the direction & trade very light , swing /turn as markets turn..Take care ..cheers.

WEEK AHEAD.

First of all A VERY HAPPY AKSHAY TRITHYA..A detailed outlay for the market was given over the weekend.. Watch 3420 as S/R for this week.any This is a truncated week , with trading till 29th april only..the range could be smaller 3350-3550. enjoy the day..Cheers.

THE PATH AHEAD.

There has been lots of friends mailing me or asking my views on what i think is the path ahead, as many appreciate the 6th march posting i gave for buying into the fall for good gains..
Lets look into whats in store for us and what has happened in the last few weeks. Technically we made a low SEVEN WEEKS back at 2539, on 6th march '09. This rally is 7 weeks old from there. 8th week and around can be a turning point. Now what have we been doing..?????? We travelled from a low of 2252 to 3247..in october to early November.. From then on every rise has been sold into , leading to a final frenzy towards the 1st week of March. I had mentioned also that its very important that if the 27th oct low days close WHICH WAS 2528 is not breached , we can head up, and had also written that despite still being around 2550-2600 levels the prices of many many stocks are below oct . lows and requested all to start buying.
Lets move a little backwards.. This fall to 2252 started from a high of 3648 on 14/10/08, so if we look at the swings of NOV '08 and top of OCT.' 08, the only swing we have is 3247 then 3648......and we made in this run 3511..So as we never broke the oct low , will we break the oct top...Maybe not in this rally....This rally may either end below 3511, or go towards 3648 or make a lower anywhere in between 3511-3648...
The swing below levels are LEVEL OF 3300 ZONE now , break of which can take us all the way to 3150-2950 zone..
So the risk reward now is not in favour of holding longs overnight, play the momentum and savvy traders can look for shorting opportunities in the next week or so when or if profit taking sets in..Small investors /traders should wait for a good dip to get into this rally again, which may move up till beyond middle of this year after a good dip..
I hope this sheds some light for all those friends thinking ,waiting to see where we head..enjoy the weekend..cheers.
PS : You can always join our service for nifty future /options/select stocks trading in case you seek professional/technical help.

TESTING TOPS

Markets slowly inching towards the old tops once again , and the bulls mostly gaining till now from yesterday..Will we cross the old high and move on or this becomes a double top and we finally relent..Lets look over this through some charts over the weekend for some cues..enjoy the weekend..cheers.

RETESTING TOPS.

Market broke out of the downward trending channelwhich I had posted yesterday morning in the chart ,to close higher..3511 will be watch zone again..and 3420-3380 as support zone.. There could be volatality again as BULLS & BEARS will fight this 3450-3500 zone hard..trade carefully and light and try not to carry overnight positions..enjoy the day ..cheers..

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..