NIFTY VIEW 13th August 2010

Today Nifty Future opened with a gap and made a low of 5363 and bounced back in the opening session. 5365 as i said yesterday in my views..

For tomorrow. I would not advise any long positions.

One can continue the short position with stop loss of 5454. In case market is able to cross this level, Nifty Future can come up to 5490 level to test the trend line and once again turn down after making a double top. I would give very low probability for this to happen.On the down side, Same i said yesterday levels it will find support at 5365 and if this level is broken, it will go down to 5300 - 5240.

I would recommend to even buy some put options on SBIN because the rally is extraordinary and we have seen correction also. At the same time I am seeing that this current rally is backed by short covering and not by the real buying.

WATCH MAGIC .... NIFTY ABOVE 5403 ....WITHIN MINUTES 5422......


ME GIVEN UPDATE ....WITH IN 5 MIN STARTED RALLY IN NIFTY...


HOPE YOU GUYS ENJOYED MY LEVLS

WATCH BLOG REGULARLY......YOU CAN GET BLASTING CALLS LIKE THIS.

Again Nifty stuck in range .... down side 5365 Nifty target 5300 intraday. , above 5403 target 5425 - 5440

So watch levls carefully .... trade acordingly.

after Europe opening oneside movment not ruled out.

ENJOYED NIFTY FALL ???

MARKETS FALLING.............BUT NEVYVELI LIGNITE WATCH NOW MAKING HIGHS ....156 TO 166....ONESIDE MOVE........MORE TO COME ...... ....MY INTRADAY TARGET 170 ....NEXT 2 SESSIONS 200.

Small players book here....and relax 10 X 2000 = 20,000 profit with in 1 day.

US MARKETS COMMENTRY.-fishhook

The FED has lost all credibility. The bears pounced upon the market today with a vengeance. Sellers abounded, and buyers were nowhere in sight! The rally yesterday for appearance sake after the FED announcement couldn't hold overnight, and like a bad dream for the bullish contingent, things just kept getting worse and worse during the day session.

If close below S&P 1100 that is a breakdown for the short term. If close below 1090 that is an even bigger breakdown, and probably affects the intermediate term performance of this market. The bulls did not mount any meaningful rallies today, and the bears just plundered as if the FED just would have been better off keeping its mouth shut! The corral fence to the south 40 has broken down and is in shambles, as the bears are running rampant in the pasture and were last seen heading farther south!

This is a BIG trend day down. Recall that I have been talking about the small range of the market for several days, and the energy that gets stored when that happens. I emphasized that when we get that much daily range compression, the resulting breakout is very significant as all that stored energy gets released. You will see this time and time again in the market if you look for it!

Finally, a note about "boundless bonds"! The bonds skyrocketed to a point and 1/2 advance today. Fear is rampant! The bonds were actually overbought going into the FED announcement, as the FED's cousin, ED :-), had been buying them in anticipation of what was coming! I have mentioned in the past that what is overdone, can become more overdone, and this is exactly the situation we are seeing in bonds. They are now incredibly overbought! Some of you may think otherwise, and I certainly respect the bullish perspective, as nobody is quite sure at what level this roman candle will burn out. I will respectfully say that this incredibly overbought situation occurs very rarely, and nobody is going to want these bonds when this panic has run its course. The impressiveness of the rally will pale in comparison to the speed and magnitude of the fall.

The OER 2010 Express has been derailed as the FED has stepped on its own "Obama". It will be interesting to see how they extricate themselves from the ugliness of the day, and at the very least, a breakdown of the short-term fun they have had since early July. I see as we speak, that "someone" is throwing some of that "unlimited money" around right now! Let's see what they can get done, as again, it is the CLOSE that is critical. It is doubtful that any honest market can ramp this thing back up to 1100 today! (Did I go too far? :-))

have a great time, all the best!!

(Topic source -fishhook 4M USA )