First individual Olympics Gold...... Bindra - carry us along

Its the Real Thing - that's how everyone listed Bindra's success getting home first every individual Olympics Gold. And how market reacts - was infront of everyone. Was it his getting Gold or something else - he gets my vote. Unfortunately I am without electricity for last 48 hours now and all power has run out so I could not follow the markets yesterday - all the same - what a runup. It has surely signalled that we are clearly out of the bears grips. As far as I am concerned it will take hell of an effort by the bears to convince me or anyone that we are in bear rally phase. Hell of a lot I repeat. There are now supports at every level it has climbed back on. Short term - 4400 now would show good support with half a dozen more below.

IIP Numbers expectations and thereafter the numbers themselves might dictate where we head towards today and next few days. Expectations are better than the last numbers.

Europe closed well yesterday ending almost a percentage up. FTSE was up 1.17%, Dax up .73% and CAC up 1.04%. US opened red but climbed to a peak in green - lost some its gains later but still closed reasonably in green. DOW up .41%, Nasdaq up 1.07% and S&P 500 up .69%. All this is well but Asia is showing different colours - starting the day in red and going into deeper waters. Nikkei is down .71% RED, Hang Seng dropped after opening green to .1% red and strait Times opened and trades about .44% red. The opening is definitely likely to have an influence upon our opening - likely to be flat to red. Thereafter - all those on longs for some time now may decide on taking out profits depending upon the hysteria built up thereafter. If we do not touch this hysteria level then definitely we may bounce back in green otherwise continue drifting in red.

On the candles - it was a definite good white candle putting to rest all doubts about the trend we will follow. MACD remains bullish, RSI has shunned its bad boy image to turn bullish again, TRIX looks up towards the sky. Mass index does not indicate a trend reversal. Slow Stochastic red line has climbed above the blue line again and looks up - bullish. ADX is bullish. Only Jaggu's TRIN remain bearish.

Gorgia may be pushed to the sidelines due to whatever - but if it does not cool off - we will see it affecting - crude and markets both. Hope for an early resolution of differences - whichever way it is.

With all this I feel the coming drop in markets can be good time to gather some stocks. Best of luck - and if the electricity eludes me today also - I may not be in a condition to follow the markets once again. Best of luck to all who do.