Hope ahead!.....

Okay there was turmoil on the markets - and that is expected to be there for some time to come. This is an opportunity for many day traders who are extracting their pound of flesh. To investors - well they would have to wait still for the clarity of thought to come across.

The Asian were weak and Nikkei was down a thousand points - I wonder why a thousand points up or down do not surprise me anymore. Hang Seng was down 4.8%and Strait TImes down 5.25%. We would this way classify ourselves as out performers with Nifty just 2.07% down - recovering from a 200 point drop in the middle of the session. Europe opened deep red - recovered touching green and then slipped even more red than before ending - FTSE at 5.35% down, Dax 4.91% down and Cac 5.29% down. In US too the stocks have been swinging wildly and presently the Dow is 0.82% down, Nasdaq 0.33% green and S&P 1.39% down. We are just past the mid session and anything is possible - most probably the market may recover and end green or at the most flat. That should ideally help the Asian markets to fare better than today.

On the candles the pattern is of a hammer today - where the bulls and bears stood and fought it out. Though the body of the candle is black - but the indications of some sort of recovery are strong. So brace yourself. Again the candle voilated the lower band of Bollinger and the bands continue to widen for almost completely this month. Volumes were higher than usual or past few days. RSI is back in the oversold territory - below 30 marker. Mass Index is flat - nor going up but neither looking down as yesterday - it really implies nothing. TRIX continues to look down so this bear pressure would ideal manifest itself every time we go up. The slow stochastic were short of 50 and red line is trying to cross over the blue line below. Bad would be the trend. So this yo yo is likely to continue and we are likely to remain range bound 3200 - 4200. Let us see how the market behave tomorrow. Best of luck and bring home some profits.

Though the oil is falling on economic concerns of US and Europe - but it will work in our favour and any cut in fuel prices in coming days will go well with the markets.