RESISTANCE ZONE

Markets gapped up to face resistance around 5070-80 zone..(refer chart posted on sunday) It has to cross and close a few days over 5110 for any upmove, failing which a correction of this up move can set in..Do keep booking profits as we go up..Try to take intraday trades and carry your profits home daily....enjoy the day ..cheers.

WEEK AHEAD

The chart posted yesterday gave a idea of the path ahead..5050-5070 zone could provide resistance ,cross & close of which takes the market to old highs.. S/R zone is 4950 ..watch that carefully when & if weakness comes..Keep booking profits and your Sl's in case there is a sudden dip in the coming days..enjoy the trade cheers.

FOOTPRINT GOING AHEAD

The chart above shows the Speedlines for the reversal of 5182-5038 & now a tentative footprint for the 5038-...?????path ahead..The markets on a bullish frame can move towards the target of 5070 & above and on reversal below 4930 may find support around 4800 zone..Keep booking profits as we climb up & stick to the policy of wait & buy in dip in the coming days..enjoy the weekend ..cheers.

WEEKLY ROUND OFF.

Markets have closed close to 200 points above the last week close..The Gloom Doom of last week has ended in Euphoria this week..The range is 4850-5050 around as of now watch the levels carefully and trade with strict Sl's as the break either way could be a fast furious move.. ..Trade accordingly and enjoy the weekend..will try to post some chart for path ahead during the weekend ..cheers.

SOFT CUES

Markets have deeper support around 4850 zone and resistance at 5050 zone..At 4950 we are in the middle of the range.. Take your call as per your risk aversion..enjoy the day cheers.

PROFIT TAKING

Markets just about could not cross the highs and gave the sudden jerk to Intraday traders in the last hr or two..hope people booked and could buy back at 4930 support zone ( Buy in dips worked well today too)..Markets should cross 5016 in the next day or so otherwise we may look at deeper correction again below 4920..enjoy the day..cheers

CONSOLIDATION DAY

Markets will like to retain the gains of yesterday and push forward towards targets of 5050 around..We will be then over Monthly R1 & Weekly R2..supports lie between 4930-50 zone..keep booking the gains as reversals are also fast and furious and try to buy dips only..enjoy the day..cheers.

SHORT COVERING DAY

Markets went about discounting all weakness here and globally to rally to above 5000...cross of 4950 was the short covering signal ..Huge OI build up during the day of the PUTS abt. app. 78lacs and covering of app. 22 lacs calls shows the days Positive trade..The market is right now completely in bulls hands and RIL did the magic in last 2 hrs..(1802-2130)..So what next..hope all gains were booked today..Markets should have resistance at 5050 zone and supports now at 4950..enjoy the day cheers.

MOVING AHEAD

Markets gave signal of profit booking yesterday..OI data suggests resistance in 4900-5000 zone for the coming days with supports around 4600-4700 zone ...trade with caution going ahead as 4950 may offer resistance..supports lie deeper down so trade light and in the direction with strict SL so as not to be caught on the wrong side of the trade..enjoy the day cheers

CONSOLIDATION DAY

Markets on cue started selling the Gap up (4950)implying that participants preferred booking profits and getting in again on dips..it almost halted at Monthly S/R..(now area to watch) 4780 is a strong trendline support zone of the market from the lows..Cross this time of 4950 will take us straight to 5030 zone..enjoy the day cheers..

POSITIVE AHEAD

Markets will party today due to DOW 13 months High made last night..Well yesterdays DATA of OI suggests huge OI increase in 4700-4900 puts implying the upmove further as CALLS OI have been shed..resistance can be in the zone of 4950-4970 for the time being with a possible target of 5030 whenever this threshold is crossed...keep booking your longs & buy in dips..supports lie in the zone of 4860 the MONTHLY S/R..Trade accordingly..cheers.

POSITIVE ALL OVER

Markets just about carried on doing their march from the despair and lows of last week to move near the MULTI RESISTANCE ZONE of 4900-4930..Remember this is where the breakdown started from..do book profits once in longs if the markets stall here and then wait for a dip to get in again..( Markets generally retest bottoms or make higher lows for bullish moves of future..)enjoy the day..cheers.

WEEK AHEAD

Markets just about moved back from their oversold territory top close last week at 4800 zone..4860 is the MONTHLY S/R( stop & reverse for the traders, above it bullish below it bearish)..The range of the week could be 4600-4900 around with 4720 zone as S/R for the week..Booking profits at highs & Buy in dips could be a stratergy for the coming week..enjoy the day cheers.

CONSOLIDATING

Markets just about moved to the resistance zone in the opening trade where many participants booked their FNO & stock positions in profit..Markets consolidated at 4770 for a while before moving up again.. supports lie in 4730-40 zone ..Next week will set the levels this markets will move to or react from ..Remember 4860 is the Monthly S/R..enjoy the weekend..& the gains of this week..cheers.

COVERING LOST GROUND

In 2 days markets reveresed most of the pain after jerking the weak hands real hard..I had strongly recommended to all visiting here to buy the panic and the dip for a bounce back to 4850 zone..& we reach there today almost ..ENJOY THE GAINS.One can start start booking profits as we gap up and move up..(Till 4900 is not taken out in close for a few days , take this as unwinding of severe oversold positions)4850-60 zone is the MONTHLY S/R.. watch that area carefully for any breakdown/breakout..enjoy the day cheers