WEEK 27TH TO 31ST MAY

Caution was advised last week despite rise, due to divergence /non movement of many many stocks???? Buy in Dips only also advised ...?? Hope people visiting this blog would have observed caution and they would have booked profits..Technical traders got the perfect breakdown  hurling towards the 6030-40 zone and global cues gave the push lower towards 5930.....Now what?? This is a 300 odd point wave and could be more or same..We will get the retracement from this oversold intra day charts..6050-6080 is a  strong resistance zone now ..any move above 6106 will take the markets way ahead to the recent top..The new leg down then unfolds and we will track it accordingly..Any close below 5930 will mean the the leg of 5480-6239 is being corrected now...5960-70 is watch area for the start of the week..Trade accordingly..cheers

WEEK 20TH TO 24TH MAY

I have been writing in this blog for the last few weeks that we are heading towards 6200 zone plus..Markets have touched the monthly targets of 6200 plus in this rally..Running markets have no Resistances as falling have no supports..So what are we looking at now????In the previous high fall one of the monthly highs swings was 6209 which we seem to have touched..Though weekly monthly EW targets project 6300-6500 a sudden sharp dip could be round the corner..Wait for a dip to get in..6120-30 seems to be the support of the market below which the zone of 6030-50 will provide creditable support so long as we keep making higher highs and higher lows.. Technical traders should keep trading with their technicals as volatality will give them good moves both ways....Many Many stocks still are lagging behind and daily RSI is showing a negative divergence..caution is advised..enjoy the trades cheers..

WEEK 13TH TO 17TH MAY

Markets crossed 6066  weekly targets to head towards 6200 or above targets now..Index is  moving up but many shares are not performing suggests a non broad based rally..People will have to wait for good dips to get into the Marketspecially in their select stocks.. and in the meanwhile just trade the index or select index stocks on technicals..Targets for index at 6200-6300 plus in this rally up above 6152 and supports below 6025 at 5950 zone..Trade accordingly..cheers

WEEK 6TH TO 10 MAY

Last week unfolded the breakout of the 5990 retracement to push us into the 6120-5480 (NF) retracements..Markets have been making higher Highs /Lows..A rise above 6066 can open the gates all the way to 6200 and above in the coming days..Below 5990 we will be suspect for corrections to this upmove..Keep strict SL of fridays low on your longs for any ride up ..failure /breakdown can take us all the way to 5750-80 zone sometime this month..cheers

WEEK 29th to 3 rd May

Markets have done almost 88% of the entire 5990-5480 retracement....Any further upmove from here will /can take us all the way to 5990-6050 or a quick move to 6200 zone..Consolidation profit taking has  set in on friday so supports can be in the zone of 5780-5800 in declines below 5850..The coming week may just be sideways and the govt actions/policy etc etc will determine the course for the next leg of the market moves..Profits should have been booked last week and wait a while for sudden dips to get in again in your favorite stocks..Be a trader as global cues may override the indian sentiments ( even if politics is + ve)..enjoy your trades..cheers

WEEK 22nd to 26th APRIL

Markets covered the volitality well and broke the 5630-50 range decesively to surge ahead towards 5800(NF) as expected on the breakout last week.Visitors to the blog who would have taken advise to buy the last 2 weeks dips in their select cash stocks would have profited handsomely with the returns.The doomsday Bears on TV channels helped in the short covering..So what next???? any guesses....Well as a first, the falling weekly channels should give resistance at 5850-60 zone..in case of a up move..5690-5720 should be the support zone now where some buying can be done for a move up..Being a truncated expiry week , advise will be to wait for good dips to buy in cash  and for technical traders to play the the volitality well on both the sides..Cross and close above 5880 can take us then all the way to 6030-6050 zone..deeper supports in corrections now lie around 5380-5400..enjoy your trades cheers..

WEEK 15TH TO 19TH APRIL

Markets did the range almost in the last week failing on friday due to Infosys result..So where are we and what to expect...well till we do not cross over 5630-50 zone decesively we should not expect any upmove..If global markets start correcting expect the next leg of correction down for us..Till then 5450-5550-5650 will be the trading range for the coming time with a occasinal jerk of 100-150 points on breakout/down..Trade accordingly..cheers

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..