SURGING AHEAD

Markets gapped up and kept going up to 3650 area where it has now spent a lot of time...Above this area 3720-3780 will be a area to watch and below on signs of profit taking now 3520 zone will provide decent support.Do remember now the base with every rise is also moving up...Its going to be a tough month , not only for retailers but also traders as soon volitality may set in which may start giving very wild swingson either side..in the meanwhile ,enjoy the day..cheers.

ROCKING AGAIN.

Asia is quite up, SGX nifty suggests a good gap up moving quickly to the next swing level of 3648 ( as mentioned in a post before)..Wait and see where it leads to...Monthly S/R is 3350 & WEEKLY S/R is 3460, Range for this month could be quite high(2750-3950)..so trade accordingly..enjoy the day..cheers

BIRLASUNLIFES INVESTTIMES ARTICLE

The latest article in March issue of INVEST TIME on page 16.this is on RSI.
http://www.birlasunlife.com/distributiontsetIMS/new/Investime_March_09.pdf

RESILIANT AS EVER

Markets once again moved up stayed around 3440 zone for the whole day to make a decesive move at the last hour to give another spectacular close for the april series..We are again close to the tops of 3520...The long weekend would have made most close their positions and take trade with a fresh mind from monday onwards with 2 days holidays ahead..enjoy the long weekend..cheers.

SOME RETRACEMENT

Markets will open up due to global cues today & will retrace some of the sold positions of yesterday. It could be volatile due to settlement , and also with the long weekend ahead , participants may like to trade and carry light over the weekend. With a gap up on open market may not do much, 3420 zone is a watch area for today..enjoy the trade.. cheers.

PROFIT TAKING.

markets just about made a double top yesterday, broke the trading range and moved towards the weekly support of 3350 zone..Buy in dip may not have suited many today and unwinding went on till the end of the day...So where would the settlement be..we are almost near small supports and a bounce can take us all the way back to 3420 zone..Trade the trend & direction as it is a settlement day tomorrow...cheers.

SETTLEMENT BLUES

markets are just about trading in the zone of 3430-3520 & maybe spend time here for the next day or so of settlement also. This week is truncated with holidays and serious trading will start in May series next week. Trade light , in direction ,in this range..enjoy the day..cheers.

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.