JERKING DAY

Markets pleased to deceive..trapping the Baby Bulls ...The fall was hard , straight , unrelenting due to continuous triggering of the Stop Losses..Technical Chartists would have seen huge Negative divergence in Intraday Charts ..and after booking longs would have gone short or bought puts..Frankly this Quantum of fall was not expected..( 180 points Nf) ..weekly S/R got broken ..supports lie deeper at 4500 around zone..lets see how the global markets react tonite..enjoy the day cheers..

SOFT CUES

Markets globally are soft, either consolidating or just waiting for some cue to take the next move..4630-4730 is the range as of now..break of this zone can take us at least 100 points quickly either way..enjoy the day cheers

UNSURE MARKETS

Markets just about pleasing to deceive..succumbing to profit taking/distribution which is going on everyday ..Only cross & close over 4730-4750 zone can we expect a move up to 4850-4900 zone..Kepp 4650-60 as SL of any longs ..enjoy the day cheers.

RETESTING TOPS

Markets hardly unwound globally & are making new highs slowly ...After the small jerk of yesterday , markets will attempt to cross the top or go higher today..Watch 4650 closely for any downturn..the Pace/Volumes are lower as of now..So take trades cautiously maybe on lower scale to protect yourself from sudden movements..enjoy the day cheers.

PROFIT TAKING

Markets just about unwinded today on global weakness to see/test the lows, shorts got the opportunity to cover...so where & what will we be doing..I think maybe just about nothing.. any Rise from here on may be used by long guys to unwind..Close over 4780-4800 only augurs Bullishness for higher levels..failure to cross will invoke good profit taking..enjoy the day cheers..

PATH AHEAD

Markets have crossed the last threshold and can surge ahead to key area of 4800-5000..Fact is momentum can take us to any heights now..CAN IT DO IT..????? why not with the liquidity floating all around the globe , thats what is needed to Tango..( All Commodities rocking as of now) Also do keep in mind the factthat the biggest JERK usually comes during Euphoric Phases..I will be optimistcally cautious in the coming days....enjoy the trades..cheers.

PEAKS SCALED

Nifty has finally scaled the old highs today , The rise was quite slow and laboured until Europe opened..markets will now try to move up further towards their targets of 4850-5100 ..supports lie at 4670 & deeper at 4580 zone..trade in the direction in the coming days with very strict stop loss..enjoy the day cheers..

WEEK AHEAD

Markets are poised to scale higher this week & Nifty is expected to cross the old high..Sensex did it last week..Weekly S/R is placed at 4576...with the range being app. 4300-4800 for the coming week..enjoy your trades ..cheers.

MONTHLY TECHNICALS

Sensex has crossed the old high and Nifty may cross it this week..Momentum is in favour of the bulls still..Monthly INNER range is 4100-4900 with 4400 as S/R...( WEEKLY S/R is 4576) Where does it leave us now..Well we complete 5 months of this rally this week from the lows of the March, The party has to end sometime .from where ????? who knows..My advise is, just follow the charts and the technicals and keep very strict SL on your long positions for any sudden reversals in coming days or weeks..enjoy the weekend ..cheers..

ROCKING STILL

Markets after a good move yesterday, just about gapped up and moved towards the old highs..Sudden unwinding must have unnerved the participants specially after it did not cross the highs of the days after struggling for a while ,,,July ends on a good note and August could be a different ballgame...., no point breaking ones head on levels etc ..best is to enjoy the weekend.. cheers..

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NEW SERIES

Seems after knocking the breadth out in the last 2 days , the new series is starting today with a good thumbs up as per global cues available , crossing the barrier if 4600-4610 with momentum which it picked from below..Shorts of last 2 days trapped for the time being..Wait for a dip to get in, in case it holds,,markets now may be heading now for 4700 and above if they close over 4600 for a few days..enjoy the day cheers.

GOOD SETTLEMENT

Markets just about took & moved in the range i had written in the morning update..4480-4530 & then the breakout on either side of app. 50 points ..Longs taken at lows rocked today...What next..Well Markets after jerking the weakhands are back to yesterdays levels & are poised again to cross the threshold of 4600 zone.. will they?????? ..who knows ..Turnovers are high , on both rising and falling days..which shows uneasiness in the participants..Trade with care in the coming days and in direction..enjoy the day cheers..

SOFT CUES

Markets gave the wild swings yesterday, in both the directions ...and covered a lot of ground intraday ( gave ample opportunities and monies to savvy intraday swing players)..cues are soft, we are in settlement day..not much should be expected today..range could be 4530-4480 break either waycan give some 50 points ..enjoy the day.. cheers..

HEAVY JERK

Markets just about gave the long awaited JERK .. It was all there for everyone to expect as the rising wedge was not breaching the 4605 zone again & again..The SHORTS rocked and so did the LONGS..4530-4600 zone was the trade area Breach either way giving a quick fast 100-150 points run( Pls. read the previous posts for the trading range)..4420 seems to have provided some support & 4530 is now the resistance now..only cross & close above of this will provide some relief for the Bulls..enjoy the day cheers..

WEAK TODAY

Markets all over are weak today..We may go down once again to test lows at 4530, breach of which can start the slide this time....Holding the lows could propel markets back to 4600 zone..cross of which can start the upmove..It will be tough to take a call but buy in dip where markets stabalise with strict stoploss could be a stratergy for next 2 days..enjoy the day cheers.