The market last week was enough to make both bulls and bears alike “sick too death”. There probably isn’t any retail traders left in this market as it’s clearly driven by computer bots trading against each other with our money of course. No one can make money in this kind of crappy market, except maybe the day traders who are knowing the news and only the really good one’s at that who are well aware of all insider facts.
Till now bulls are trying hard to sustain above 5605 mark on closing basis, but If it doesn’t by some odd reason, and it closes below the 5605 mark, then we will need another conforming close below it before we’d be comfortable saying “the bears are back with energy booster” & then we expect 65-155pts more downside movement in markets. Revengeful bears can also brutally murder the bulls & then this downside move can come in a single trading session also. If we look at a shorter term then till markets are above 5559 level, bulls will regain their energy to fight back with the bears & show bounce back. On lower side we expect a short term bottom to be formed in range 5465-5559.....and if this support range holds the market....then bears will take a breather & bulls will get some relief from this painfull corrective move of markets. However, we no longer live in a “free society”, where the stock market is actually traded freely with real buyers and real sellers. Now we have a market that is totally controlled by manipulators, so anything anytime unexpectedly can happen & change the whole scenario.
Moving on to coming weeks we could see markets bouncing up from lows, as the manipulators still have the printing press going on full steam. The recent crash in markets of about 600pts was due to the reason that all the FIIs were having buy positions at nose bleed levels, and it was hard to push them up any higher without a revert action (profit booking) first. We all know how manipulators rotate from sector to sector, pumping each one to prevent the markets from collapsing. However, at some point, gravity will take over and market will sell off hard. All these flash crashes show you how vulnerable the market really is. One surprise false flag event, or some other major default, would crash this market in a heartbeat! So be on your toes, as when it falls, it will be fast and hard...as you al have seen in last 10 trading days!! Last days of last week of january seems to show some next trigger for markets. Stay tuned with us.
Nifty Future Weekly Levels
- Resistance - 5730-5798-5860-5918
- Support - 5605-5559-5502-5465
Stocks for the week
- Archies Ltd.
- OMDC
- Rico Auto
- BPCL
- Shriram Transport Finance
- Harrison Malayalam
- Denso India
- Educomp
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