WEDNESDAY - 14-05-08 - 8.40 AM

ALERT - CLOSE UR LONGS ON EVERY UP, MARKET IN CRUCIAL BELOW 4870

MARKET VIEW
US MARKET CLOSED WITH MIXED SITUATION , AND ASIAN MARKETS ARE DOING IN MIXED SITUATION, HERE EXPECT FLAT OPEN OR DOWN SIDE OPEN, AS PER THE TECHNICAL CHART, MARKET IS IN VERY CRUCIAL STAGE, AND OFTEN IT CONFORMS THAT SOME STRONG BEAR IS WAITING FOR , SO THIS IS NOT GOOD FOR US, AND 16500 TO 16450 IS THE VERY IMPORTANT SUPPORT FOR SENSEX, AND 4900 TO 4870 IS IMPORTANT SUPPORT FOR NIFTY, IF IT BREAKS, AND CLOSE BELOW THIS LEVEL, THEN NEXT SUPPORT IS AT 16190, 4850, BELOW, HEAVY CORRECTION WILL OCCUR (MAY BE JAN LOW), SO I TOLD U ALL TO SQUARE OFF UR ALL LONG POSITION, WHEN MARKET COMES UP, AGAIN I SAID DON’T HAVE ANY LONG POSITION, AB 17500 ON CLOSING BASIS FOR 2 DAYS ONLY WILL TURN THE MARKET DIRECTION, SO AVOID LONGS, DAY TRADERS BOOK ON THE SAME DAY ( PROFIT OR LOSS), I THINK MARKET WILL TEST THE JANUARY LOW SOON AGAIN,

SENSEX VIEW
TECHNICALLY SENSEX HAS SOME SUPPORT AROUND 16450 RANGE, IF SUSTAINS BELOW, THEN NEXT DOWN SIDE TARGET WILL BE AROUND 16190, BELOW HEAVY CORRECTION


SENSEX SUP & RES
ABOVE 16870 TAR 16967, 17070, 17150, 17250, 17300
BELOW 16680 TAR 16590, 16450, BELOW 16220 TO 16198, BELOW HEAVY CORRECTION TAR 14500 TO 15000

NIFTY VIEW
TECHNICALLY NIFTY HAS SOME SUPPORT AROUND 4900 TO 4870 RANGE, IF SUSTAINS BELOW THEN NEXT DOWN SIDE POSSIBLE UP TO 4850 BELOW 4450 TO 4400

NIFTY SUP & RES
ABOVE 5025 TAR, 5056, 5090, 5110, 5160,
BELOW 4943, TAR 4913, 4889, 4870, 4850, BELOW 4450 TO 4400

NOTE:
DON’T TAKE ANY SUP&RES IN OPENING PRESSURE, USE IT AFTER 10.15 AM OR 10.3 AM



SAFE TRADES VIEW
YESTERDAY OUR MARKET NOT GOOD EVEN ALL MARKET WAS IN UP SIDE , OUR MARKET IS IN VERY CRUCIAL STAGE, AND OFTEN IT CONFORMS THAT THE STRONG BEAR IS WAITING FOR , SO THIS IS NOT GOOD FOR US, AND AS PER TECHNICAL RULES STRONG TREND LINE AND PERFECT CHANNEL IS AT 16500 TO 16450 RANGES, SO THIS IS THE VERY IMPORTANT SUPPORT FOR SENSEX, AND 4900 TO 4870 IS IMPORTANT SUPPORT FOR NIFTY, IF IT BREAKS, AND CLOSE BELOW THIS LEVEL, THEN NEXT SUPPORT IS AT 16190, 4850, BELOW THIS LEVELS, HEAVY CORRECTION WILL OCCUR (MAY BE JAN LOW), SO I TOLD U ALL TO SQUARE OFF UR ALL LONG POSITION, WHEN MARKET COMES UP, AGAIN I SAID DON’T HAVE ANY LONG POSITION, AB 17500 ON CLOSING BASIS FOR 2 DAYS ONLY WILL TURN THE MARKET DIRECTION, SO AVOID LONGS, DAY TRADERS BOOK ON THE SAME DAY ( PROFIT OR LOSS), I THINK MARKET WILL TEST THE JANUARY LOW SOON AGAIN, IF ANY UP SIDE BOOK UR LONGS, AND DON’T TAKE ANY FRESH LONGS, (IF MARKET NOT BREAK AND NOT TRY TO CLOSE BELOW 4870 IN NIFTY 16450 IN SENSEX, MEANS, WE DON’T HAVE ANY PROBLEM, SO UNDERSTAND, THAT THE PROBLEM IS ONLY BELOW THESE LEVELS ON CLOSING BASIS )

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