WEEK 8TH TO 12 TH APRIL

Markets failed cross the top of the range of 5800 in the bounce back and moved and broke the lower end of the range ie 5600..Markets have a support in the 5460-5530 (NF) which is where we gapped up in the past upmove a few months back..We are over sold in short term, so somewhere down the line we will get a snap back rally due to Bear exhaustion provided global cues are helpful..5520-5630-5740 should be  a range for the coming week.Pick your select stocks here for a trading bounce profit..Keep booking profits as and when you get them as the trend is down and till we donot make higher lows the possibility of drifting down more is always there tso as to complete the upmove correction, both price/time wise..enjoy your trades..cheers

WEEK 1 st to 5 th April

The month of March ended below the Feb. monthly close..So 5675-5700 emerges as a zone to watch in the month of April..above it long and below it short with your stop loss in place as you do..The range for the last month was 386 points ..The range could contract this month..5600-5700-5800 is the emerging range with a quick flash of about 100-150 points either way on breach of this range..Markets are a tad oversold in the daily charts too and may give a bounce provided the global cues support it..Watch the range and trade accordingly..enjoy your trades ..cheers

WEEK 25th mar to 29th mar

The coming week is a truncated holiday packed settlement week..Lets first consider what markets have done so far????we have been selling from the start of Feb till date making lower highs /lows..This is natural after 13 months of spectacular rise..What else , Huge no. of mid/ small caps are at 52 week lows or  this means stocks prices have crashed to dismal lows but indexes still around 5700 due to index stock adjustments..Markets generally build parallel images and for technical guys will like to point out that if they draw channels in weekly charts from previous lows..they will find that temporarily , this could be a support zone..we have a gap in 5550 zone so can drift lower due to settlement pressure,,Your select stocks are well corrected and can be partially entered to trade a bounce..5750-70 will be resistance after which 5830-50 will be another resistance..clearing these levels  the  markets can retrace to almost 6050 over 5920 zone..Can we reach there is questionable ???as MAJOR CORRECTIONS  do not  end  soon and with time correction we head much lower than these levels, but rallies in a bear markets are spectacular and confusing & should be traded....So keep aggressive trading and book your profits regularly to enjoy being in the stock markets..enjoy your trades..cheers

PS:  A VERY HAPPY HOLI TO VISITORS OF THIS BLOG.

WEEK 18TH mar to 22th mar

Markets failing to cross 5990 broke the 5900 zone to retest the 5800 zone to register a V shaped bounce..Technical traders would be enjoying this roller coaster ride either way  for good gains as the market is giving huge movements..So what are we looking for next week..An event is there RBI policy so be  light going into it..6000-5900-5800 seems to be the range now..with 5900 emerging as a pivot ..trade accordingly.. long term averages are turning bullish in intra day charts with 5830-40 being a  break zone in close..If we remain in this zone and US/Europe holds we may head upwards to test or break the highs made recently..cheers

WEEK 11th mar to 15 th mar

Markets reacted from the oversold support levels as observed in the last weeks postings to squarely cross the resistance zone of 5850 to head towards the next zone of 6000-6020 zone..Strong resistance here..do wait for a decent dip to get in again 5850 now becomes a strong support below 5900-5920 zone..targets above 6020 could be 6080-6100 zone before a decesive breakout over last highs can take place..Remember 5800 is important zone for this month.break can take us all the way to 5600 or below...Trade accordingly cheers

MARKET DIRECTION

This week we will look at what the markets are doing right now...To see the market direction we have to look at the weekly charts..Markets had 3 points of reference while going UP  i e 4767-5034-5555 ,while making the move from 4538-6120..We have finished 78% correction of the last wave i e 5555-6120..any further drop will put the markets in the grip of correction of 5034-6120..which could go as deep as 5280-5560.. A bounce is expected from 5650-80 zone towards 5820-5850  (SL for shorts should be above 5900) at least after which the next leg down can start..The long term  averages are far away from the price so it will take a few weeks for catching up and then a consolidation  phase for any reversals..till then trade the main direction which is down and the occasional bounces..Happy trading cheers.. 

WEEK 25th feb to 1st march

Markets almost moved the range suggested last week..5850 in NF seems to be the key next week..over this levels we should head upwards towards 5950 -6020  below this test to 5800-5750-70 zone..Markets are taking cues from the global markets..FII are selling in FNO segment so just the budget ahead will keep the volitality going...Good times for technical traders who trade with charts for gains either way..Others can just wait for the event to be over to see the trend/drift and carry on from there..Select stock picks can be done for quick gains ..enjoy the trades..cheers.

WEEK 18th feb to 22nd feb

Markets are still correcting and in SELL mode..The highs are not not being crossed and the lows being broken..5850 is a key area to watch next week below which a possibility of 5700 zone opens up..We are a tad oversold so a  technical bounce is expected too..5990-6010 will be a good resistance zone above which 6070-80 can be tested..Select stocks have corrected well and can be dipped in to for this bounce..The trading zone in coming days could be 5770-5890-5990..enjoy the trades cheers..

WEEK 11th feb to 15th feb

Markets did grind down and hit the target of 5900 as written in the last weeks post..5860-5900 should be the support zone in the coming days in case we slip below this level and a bounce back is expected for the over sold positions..Many stocks have corrected well and investors/traders visiting my blog  who booked at the top can now buy this dip in for this bounce back..The corrective up move will define the path beyond the budget etc ..and the key area again to watch will be 6050 zone ..close and stay above this zone for a few days will propel the markets to 6200 & beyond..Break below 5850 will take us to the 5700-5750 zone..This could be the path  leading to the budget..enjoy the markets and your trades..cheers.

WEEK 4th feb to 8th feb.

Markets Made a new top last week but again went into the grinding mood despite the cheer in the global markets..Lot of paper from Govt etc is being offered  absorbed and will continue for some time..We could be in a near term top time cycle wise and the grind down could have started..For the month of FEB do keep watching the 6040-50 zone for any upmove and below this we could well correct to 5900 or below levels..Till then play the placid 6020-6120 range with a sudden move of 150 Points  either way..enjoy your trades cheers

WEEK 28th jan to 1st feb

Markets moved in a range but a huge running correction took place in mid/small cap stocks..That is why profit taking is essential at new tops..These sudden price collapses give opportunity to buy again for trading for quick gains in a range bound market..The market is still range bound now in range 6000-6100 ..This range has to break soon..Correction whenever they set in will be deeper and longer..So keep trading..5970-6000 is key area to watch now on falls and 6100-6120 is resistance zone..a minimum breakout/in will be 150 points either way..enjoy the trades cheers..

WEEK 21st to 25th jan

Markets moved and crossed the top of the  range NF 6050..to make new highs..The climb up is tedious  and can be played by technical players with a sound trading system..Those who have booked profits or wanting to book profits  should wait for good dips to get in again in their favorite trading stocks....As market keeps making higher highs/lows there is no Sell for positional players..5970-80 zone is a good support to watch below 6000 w 6020 &  above 6090 , 6150-6250 zone  is where we can head..5800-5820 will be closely watched for reversals in coming weeks..Enjoy your trades cheers

WEEK 14TH TO 18TH JAN

Markets are still range bound between  5950-6050..They have been in this range for sometime now..So what next..Either play the range and keep booking profits as we reach the top of the range with reduced quantity or stay stay away for a while..This is good times for technical players using trading systems or charts as markets are giving opportunities both ways..The range will break shortly and the run either way will be 150-200 points..Keep the powder dry for select stock picks on sudden deep dips..enjoy your trades Cheers

WEEK 7TH TO 11TH JAN

Markets broke out the range at 5950 to move upwards towards its target of at least 6150..Will it achieve it or stall somewhere in between will have to be seen now that the momentum is slowing and we will be entering the result season..5960-70 will be a strong support zone , FII still buying in cash and the global cues will be watched..so 5960-5830-5750 remains the support zones  and 6090-6150-6250 remain the resistances in the coming weeks..Do book or protect your profitable long positions as the fall will be sharp ,quick and without notice..Wishing all my friends and visitors a very happy prosperous new year..Happy trading..cheers

WEEK 31st dec to 4th jan

Markets are still range bound sideways as a mix signal is emerging from the monthly to daily charts..Markets in meanwhile are trying to look for cues from global markets..The range of 5850-5950 has to break in sometime soon....the break could lead to a quick movement of 150-200 points either direction..Till then trade the zone and buy the sudden dips ..

wishing all visitors a very happy prosperous 2013 yearin the stock markets....cheers