For coming watch for consecutive close below 6010 level, as this level is important to the bulls, and a break of it would have the bears jumping on the short side faster then you can blink an eye! Then once all the bulls have sold out and the bears are on the short side....Bam! Here come the buy programs to rally us back up. This is what the manipulators can think to do in coming days!! What happens with these manipulators is that they decide well in advance.....which direction to take the market, and for how long (you should already know that....if you’ve been reading this blog for awhile). They can do this because they manage to get key positions filled in all decision making departments of the country. This allows them to get free money, and to get policies and laws changed to allow them to profit more. They are well organized and plan everything in detail.
Last week when Nifty fut touched high of 6300+ , mark, we told everyone that short term & October expiry high is in now & we will witness selling only in market with deceptive roller coaster movement. And we hope all of you must be enjoying the downside move of 300pts from high & daily roller coaster move in markets.Finally, a decent sell off! It’s up to you to make your own decision as to “how to trade” this market of course, and we are only showing you what we see can happen in markets. Keep one thing in mind everyone.... nothing is written on stone. We only try to provide a forecast of the possible moves coming.
In intraday today the bulls need positive volume coming into the market above resistance level of 6080 if they want to continue on up to 6098-6114-6135 levels, and the bears simply need to wake up and break the support of 6010 level to slide down the markets tills 5988-5970-5940 levels. If you are still short, and didn’t close out today, we would close them out tomorrow on any gap down and stay in cash over the weekend. That’s what we are doing, as any move up next week will be limited and not worth risking in our humble opinion at least. In a fair world, the market would rise and fall smoothly without manipulation and false bubbles inflating to unrealistic levels, followed by huge crashes. But, we don’t live in a fair world. Greed from corrupt people, and others that stay hidden, create these boom and bust cycles. All we can do is to try and follow what they are doing and profit along side them.
Last week when Nifty fut touched high of 6300+ , mark, we told everyone that short term & October expiry high is in now & we will witness selling only in market with deceptive roller coaster movement. And we hope all of you must be enjoying the downside move of 300pts from high & daily roller coaster move in markets.Finally, a decent sell off! It’s up to you to make your own decision as to “how to trade” this market of course, and we are only showing you what we see can happen in markets. Keep one thing in mind everyone.... nothing is written on stone. We only try to provide a forecast of the possible moves coming.
In intraday today the bulls need positive volume coming into the market above resistance level of 6080 if they want to continue on up to 6098-6114-6135 levels, and the bears simply need to wake up and break the support of 6010 level to slide down the markets tills 5988-5970-5940 levels. If you are still short, and didn’t close out today, we would close them out tomorrow on any gap down and stay in cash over the weekend. That’s what we are doing, as any move up next week will be limited and not worth risking in our humble opinion at least. In a fair world, the market would rise and fall smoothly without manipulation and false bubbles inflating to unrealistic levels, followed by huge crashes. But, we don’t live in a fair world. Greed from corrupt people, and others that stay hidden, create these boom and bust cycles. All we can do is to try and follow what they are doing and profit along side them.
Nifty Levels
- Resistance - 6090-6098-6114-6135
- Support - 6010-5988-5970-5940
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Intraday Calls
- Siyaram Silk abv 378 tgt-385-391-398+
- Exide Ind abv 156 tgt-157.8-160-161.5+
- MRF Ltd abv 9555 tgt-9620-9763-9920
- DCB abv 73.5 tgt-75-76.8-80.2
- Also watch Modern India, OMDC, United Spirits, J&K Bank.
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For all trades, keep trailing your stop loss once the stock is above the buying price. Don't take delivery of any intraday call. Avoid spike buying.
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