Banknifty view for 10.8.2011

The Market sarts showing it wild colours in the past four days.The today market opend in deep gap down and the opening there were huge panic selling seen..But in no time the Banknifty and Nifty jumped up.

Today the banknifty opened in 10050 punch and show a down at 9939.90 and from 10050 onwards it shoot up like bullet.I saw a real Roller coaster move today from low 9939 to 10433.Who ever was not trained enough in trading would have thrown out when the market was gone up(without sl) and that too i noticed from 10250 onwards it shoot up non stop to 433 and certainly jumped down to 10050 levels.That's why i say the market exactly behaved like a roller coaster with so many wild jerks.

Yesterday, in my preview i wrote any prediction now may go futile.That's how the market exactly behaved today.New traders must stay away from this market. As it is purely the technical players/operators are very much aggressive.For no reasons it pulled up and no reasons it fell down steeply.Even the technical 's tools can not give you a perfect indication.

Last two days, the market opened in gap down and pulled up(may be by the DII's Buying) and gave up all the gain.One thing we need to remember, no one can hold the falling knife when the margin pressure/shortfall- faced by FII's!! In any price they sell.So be cautious.All i can say now is the market is not settled in bottom..as the Nifty and banknifty broken the status quo bench mark 5000&10000 respectively.

Yet another gap down is on card.The bear market is the indication of a continuous gap down and bounce to fill the gap.The nifty& Bn gap was filled today.It means the peak one can look out chance to exit long or add fresh sell.

Banknifty view for 9.8.2011

The US debt crisis made fear among the global markets and that too when the USA lost its status Quo since 1917 the 'AAA+' has became 'AAA' after the friday US market closing...That gave a negative impact among the global investors and traders...And today the whole of Asian market opened in deep down The Indian market too opened in gap down.The Nifty opened in 5149 from the Friday closing 208 but it was traded near 5100 during opening and in the Mid-session it shoot up and made a days high of 5208...But instantly gave up all the gain in short while and fell back to 5110 level.So the attempt of bulls failed The Nifty closed weak.

We wrote in our yesterday post...
The Nifty we expect to take support in 5048 level and may bounce steeply to 5400 levels..as the upside gap is unfilled..But we also remember, there is a huge gap on the down side left unfilled , during when the congress won the election....So ,one can keep this SAR@5048 and go long..if SAR triggered/breakdown the down side also you may gain..So the idea is to have an open mind for both possibilities ,We can gain.Don't risk your trade without stoploss now.

Many readers and clients followed our plan and made 150+ points in Nifty intraday.As the 5048 level we mentioned as SAR was not triggered.The nifty made a days low very close to this SAR.The days low was just ten points away from our SAR-.i.e 5057.

The BN opend in 10100 level made a days low of 10075 and rose to the days high about400 points + as it touched the high in intraday itself 10494 and gave up all the gain and fell down to 10200 levels.

The Market now seems in the panic mode so the intraday recovery also failed and seems a phony..The comming sessions we need to observe than only the follow up action can be made.Any prediction may futile now.The best thing one can do is trade with SL.

Where is the Bootom?

The Friday is marked as 'BLACK FRIDAY" as the world market were shook very hard and bleeds in red.This is not unexpected!!

We were expected this fall well before and cautioned in this blog many times not to remain longs.even our paid clients were fed up by our sell call almost every day.

We also gave few write ups..here and in facebook..About the Global economical crisis and its impact in market...(why market is bleeding red.) A diligent follower of this blog could have at least averted the huge loss,that would have caused by just remaining in longs!! Many emails we received from the readers expresses the same.

We are happy one way, our post saved so much money of many friend also sad the market is still looking very fearful/untouchable as the bottom is unknown.The technical parameters indicates more selling on card.The Monday market too add more selling..


It is the best, to stay away till the market find its bottom..or unless,until if you are very much sure, this is the bottom!! you can get into.

The Nifty we expect to take support in 5048 level and may bounce steeply to 5400 levels..as the upside gap is unfilled..But we also remember, there is a huge gap on the down side left unfilled , during when the congress won the election....So ,one can keep this SAR@5048 and go long..if SAR triggered/breakdown the down side also you may gain..So the idea is to have an open mind for both possibilities ,We can gain.Don't risk your trade without stoploss now.

The Banknifty price were discounted then expected...If, it break down the 10,000 mark the next support it has in 8300 level only.As we are not sure of this bottom...and the situation right now is ..Anything may happen...The market may face the Falling knife syndrome so be cautious..when you are not sure about the trading just stay away...Not loosing money is important than gaining at present the market is in such juncture..