Nifty close below 4950 very bearish

Nifty has broken below the trendline which contained the upmove from March 2009 lows of 2800 levels.

Trendlines do work. Notice how a break above the channel in end March signalled the end of the downmove and the start of an upmove as indicated in the chart.

Nifty closing below 4950 is very bearish.

Trading Idea: Short the Nifty if it goes below 4950 and keep 4950 as the initial SL.SL can be trailed aftersome time depending on how the market moves.

Nifty continues uptrend

Nifty continues its uptrend. Until the market is bearish it is bullish. So we have to respect the trend. Although this might be the final leg of the up move.

All investors are bullish now. This is the clearest sign of a major correction on the horizon.

A close below 5200 for a few days could signal the downmove. Till then stay long. Or be wrong!

Nifty targets for retracement

Nifty has completed its wave 5 up peaking at 5170 levels

Target for wave down is 3916/3707/3363

Short term risk of a sharp sell-off in the coming weeks is extremely high

Nifty extremely bearish

The Nifty is extremely bearish now...all indicators are pointing downwards and the current momentum is down...Initiate or stay short!

Banking Woes continue - stay short!

Problems with global banking giants continue. Citi shares tumbled to below USD2 on Friday. Citigroup is pressing the US government to agree on a new capital injection that would increase the authorities’ stake in the troubled bank to about 40 per cent but stop short of an outright nationalisation. The entire story can be read here
http://www.ft.com/cms/s/0/806418a0-0140-11de-8f6e-000077b07658.html

The other side of the Atlantic RBS is cutting its balance sheet by 25%. The entire story can be read here
http://www.ft.com/cms/s/0/55253388-0125-11de-8f6e-000077b07658.html

How do we as traders profit from this?
Keep an eye on the Bank Nifty in India. It has been trending for the last many months and is still giving great short term moves..long and short. For the unprofessional trader, obviously it is safer to remain short.

Bank Nifty

Am short on Bank Nifty Futures at 4550...it is currently at 4082...for those having a bearish view on Banks (I am sure there are some bravehearts who are still bullish) the Bank Nifty Futures provides a convenient way of gaining from the fall while avoiding stock specific risk.

A move from 4500 to 4000 levels is a 10% fall on an unleveraged investment. Which is amazing for a 5-10 period horizon. The Bank Nifty is a very trending index and once can get these moves (up and down, though its always safer to trade in the direction of the trend) quite frequently on this index.

The momentum in Bank Nifty is extremely bearish. There is still scope to ride the downward trend.

As always keep lot sizes under control and stop losses in place.

Nifty very bearish...Go short!

The Nifty has turned extremely bearish across all timeframes..it has also broken 2700 which was a critical support....please exit all longs in stocks and futures...get out of long calls and short puts.....can short futures or long puts as long as Nifty remains below 2830...As before maintain stop losses n keep leverage low. Good luck!