As the new year rings in, many traders are probably thinking that the worst is behind them and that this new year will be better then the last one. They can be proved Wrong by the stock market manipulators! These manipulators have some serious plans for this year....and if the sources are to be believed...the plans will create panic in the market in the form of major news break & sky rocketing oil prices. This forecast done by us is for a longer period of time of year 2011 & not for a day or a expiry.
Now if we look at the whole scenario this market is so deceptive that it makes absolutely NO logical sense, pattern, rhythm, or rhyme... No one in their right mind would go long in this insane market at current levels of around 6200. Of course going short is just a crazy too… You’ll end up tied down to a table with ropes pulling your arms and legs off, by some bull as he slowly tightens them with one turn at a time. The conclusion for whole scene is that its a Slow torture for the bears, and more crack cocaine for the bulls.We warn all traders for some really deceptive & very sharp move in markets in coming days/months.....stay cautious in markets in second & last week of January.
Right now the market is looking for more morphine (money) to keep it alive, but We don’t think it’s going to get any. So, thinking like a Dalal Street crooks here....they must take markets above 6200 level on Monday morning to squeeze out all the bears that went short on Friday, and then tank it afterwards. This would trap a lot of retail bulls expecting provide the next rally up, and not allow any bears to get short in a great spot. All the bears would throw in the towel and go long, expecting a upside. And this will provide all the manipulators to get out of their long positions in a very smooth & easy way.
The best way deal with this kind of markets is to follow the levels & trade on both sides of movement, rather than leveraging & betting unidirectional. This week moving on higher side bulls have a barrier at 6255 level, crossing and sustaining above this level will open doors for 6287-6314-6345 levels. If in coming days, we see markets sustaining above the level of 6255 and giving consecutive close above this level, then we can expect a sharp upside, but chances are less. Contrary to this upside move, if Nifty fut reverts back from above given resistance levels, then on lower side it has support at 6160 level, breaching below this and sustaining will make it slide down to the levels of 6110-6065-6030. 6030 level being the major support on downside, & if this level is breached on closing basis then expect bears to get an energy booster for further movement.
In current scenario immediate Nifty fut range looks like 6030-6255 & a broader range can be 5770-6345.
So, traders must trade on both sides and mint money bi-directionally rather than waiting for expiry targets. All traders must stay cautious and must not leverage positions without proper knowledge of market directions. Read the facts provided here for knowledge, and use your own wisdom to trade.
- Resistance- 6255-6287-6314-6345
- Support- 6160-6110-6065-6030
- OMDC
- Rajesh Export
- Dollex Industries
- Goodricke Group
- Oriental Hotel
- Jindal Photo
- Bajaj Auto
- Educomp
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