sreebhashyam

sreebhashyam

Todays high so far should hold for move towards 13370-60 near open. Sell here and 13430 stop 13455 (earlier stop should ideally hold) for 13370-50

sreebhashyam

EURGBP is in corrective move. Pair can correct another couple of pips lower (probability). Buying those dips 0.9045-0.9030 with stop 0.8995 for 0.9100 is preferred trade. Current uptrend in pause mode around 0.9110 (not ruling out direct break upside either).

sreebhashyam

Close 13350 and inability to touch min objective of 13250 keeps the momentum in favour of bulls. Higher Momentum ideally to take towards 13400 plus area. However many indicators are near the two year high, indicating profit taking at these levels. Base moves higher 13280. Intra-day stay in the range of 13310-13410 with 30 pip stop either way.

sreebhashyam

After monster move; pair in pause mode. Broad range of 1.2080-1.2180 works. While slow and steady consolidation takes place, the up-move has more legs to go. Dips towards 1.2095-1.2080 to be bought 1.2035 stop for 1.2165. Any shorts stops 1.2185. RR favors waiting for those dips than a sell

sreebhashyam

Price action pushes behind the negative divergence, typical of trending market. However, the True Range signals continuation of volatile high and lows while the net move remains in reasonable range. Bulls continue to move with higher base while bears on back foot. Higher base 13150 while 13310 attracts. Either sell 13310 stop 13350 for 13250 for buy 13200 stop...

sreebhashyam

Synchronized asset markets globally pushes buy on dips and hence higher base is seen across. Dips remain shallow. Ability to stay above 29600 remains too strong. Two hammers have been produced and now 29950 break opens up inv H n S pattern. Pushing bias to longs as the downward correction remains shallow. Buy here and dips 29850 stop 29730 for 30300+

sreebhashyam

Ability to bounce from 13000 and close in positive favours bulls. Bears had momentary control but lost in the process. Supports around 13060 should help bulls to print a new high. Higher first before lower continues the theme. Stops for longs 13055

sreebhashyam

Corrective moves continue while refusing to pass past 30K. Direct break below 29500 augurs well for the bears while near term 29700 needs to be captured for the bulls. Sell on the break with 29800 stop for 29100.

sreebhashyam

While the break above 7080-7100 zone disappointing, it is on the back-drop certain euphoria. This is characteristic of market peak. Remain short for long term short stops 7300. A direct break below 7000 augurs well here. For the day 7200 should cap towards 70900 area.

sreebhashyam

Remains buy on euphoria, regret in leisure. While bears have not had any better day, bulls are not happy either save certain individual gems. Technically 21700 is the support that should ideally be attacked and taken. So sell here stop 22150 for break of 21900 taking it to 21700. Break 21700 invites deeper correction.

sreebhashyam

Yesterday rise remains a borrowed one and today failure reflects the growing reality of sell on rally either on profit taking or over-bought zone. If already holding shorts continue with trailing stop at cost towards to 12930-50 area. No longs suggested and earlier longs to be ignored.

sreebhashyam

Broke the 13080 on close basis after holding to the low around 12900. This brings bulls back while bears ability to hold the decline comes into question. However, persistent divergences cautions occasional bouts of profit taking while pushing higher base is the ideal scenario. Expected correction remained short lived. This pushes the new range to 12950-13150....

sreebhashyam

The recent rally met the boulders. Short term looks heavy and prone to profit taking. New base is 8600 loss would push deeper correction and flag the daily to bears. Too early to conclude though. Below 9000 softer bias and weaker among the sectorial indexes in shorter frames. Sell stop 1% take profit 2%; Watch 8600 reaction.

sreebhashyam

Despite the triangular break out the upside thrust is not encouraging. Support around 21600 is vital and crucial for bulls to survive while bears looking threatened above 22000. Suggest to sell rallies or the break with 1% stop for 2% gain.

sreebhashyam

Despite the negative divergences; the fall so far has been muted and within the recent ranges. Still consider a corrective move. Near term 28800-30080 holds while bulls still looking for deep dips to hold. Not inclined to call the sell shots above 28800.

sreebhashyam

Despite all the action in SGX; the markets near flat save if any negative opening. Near term base 12900 loss signals further fall. A direct break above 13050 opens up or say keeps the bulls hopes alive. Watch for break of 12900-13080 either for directional trade.

sreebhashyam

VIX has remained around 20 long time seen in many years. Last couple of days it held and based. The recent gap down is now filled, providing a near term base around 20.30 (remains stop for going long on Vol). Target remains towards 26 currently around 22.4. Pack full for puts best way to go long Vol.

sreebhashyam

Dow failed to cross 30 K in the back drop of most optimistic news flow, a la contrarian indicator. The move below 29800 signals short term down move towards 29100. Break there would suggest deeper correction towards the 26800 area. Stay short here and 29750 stop 30150 part profit 29100 balance around 27500.