For 15 May 2009

Ohhhh!....I was very confidant ehwn I said y'day to go long @ 3550 with sl @ 3530....but noise was negative everywhere so was watching silently....most of the voices were not saying long y'day I saw...again nifty was as I was expecting.......cheers....! from 3550 to at least 3614 ( which is imp point according to me) .....gained 64 points without any effort...so cool....( if somebody was that much smart he would have extended his gains up to 3635 as it was next point after 3614 ..I have mentioned well in my earlier post..if so then gain is just short of century....and there was enough time at opening to go long @ 3550...(THIS LAST SENTENCE IS FOR THEM WHO TRADE MARKET IN BOOKISH WAY)....so no excuse was there...!)
For today....3614 is first resistance and my sl for positional short calls given y'day on my "QUOTE nQUOTE"box..(OF COURSE SL IS ON CLOSING BASIS).....if it passes then 3635/3666 next point to watch.....and on lower levels 3560 is very important point to watch ..then as much discussed 3526/3493.......if 3493 breaks and close below then need not to cover shorts......
For today if it is below 3614 in first half an hour then go short with 3614 as sl.....for first tgt of 3560.....if gap down and not breaking 3560 then go long fot intra with 3560 as sl for tgt of 3595/3614.....if gap down and below 3560 watch trend for some time and go short with sl 3560.....see whether 3526 is protected if yes then cover short positions partially.....go long there with sl 3493....
Today support @ 3560/3526/3493.....resistance 3614/3635/3666
good luck!

For 14 May 2009

Again the day was memorable......I said lowest level support 3607..it turned @ 3610.....at opening resisted @ 3697...in midsession resisted @ 3709 ( my level 3720).....so for traders who do level by level it was a nice day....... dont know any other has benefited but NEETU has commented regarding this.....
For today on upper side same levels to watch..but today is interesting day .....if 3614 breaks then we will see deep down..if closed below 3614 then it is confirm that we are heading towards 3525 again.....at that point we will review the situation ( this is my weekly point to get clearer picture and tommorrow is friday)
Today i think gap down....will test 3550...go long there with sl 3530 ....if not tested 3550 in first half an hour and it is above 3581 then also go long with sl 3550.....if below 3581 and not tested 3550 do nothing... see the trend and do with appropriate sl afterwards.....but for aggressive if 3570 go short with sl 3581 for tgt of 3530.....remember 3506 is final sl for long in closing basis......and close above 3614 is sl for short( means dont take short as positional)
I think today gap down will not give much opportunity for trading in first session....
For today support is @ 3628/3614/3581/3559/3550/3506 and resistance @ 3687/3720......

For 13 May 2009

What a day it was!..... as saying again and again 3526 is protected.....and as said after crossing 3585 you have seent the results......again proved correct!
For today I don't expect fireworks after gaining 3% in a single day......i think same story to repeat....as I wrote on 8 may it is applicable today also......looking rsi I expect some sideways movements for next 2/3 sessions...and then final decision....as I am of the view that we will not cross 3755 in current series I expect nifty to settle down in a range of 3525 to 3635.....provided that 3526 is protected on weekly basis....
For today again go short near 3680 with sl 3720 on closing basis..of course this for positional....for intra also go short @ opening if nifty is near 3680 with sl 3695....for tgt of 3638/3607.....and if nifty is @ 3624 go long with sl 3607..for tgt of 3675.....play in this range accordingly with appropriate sl....
For today resistance @ 3676/3695/3720....support @ 3638/3624/3607.......
y'day those who were on my blog got alert that correction seems over and think of your short positions when nifty was 3585......rest is hostory you all know.....!
good luck!
Those who reviewing regularly I am expecting comments/suggession ....
thanks.