Thursday, November 06, 2008

Rcom might move up

Pure hunch support 220-215.
Can touch 260-270

UPDATE: target 251.. 260-270 area bonus.
res levels on fib 231/237/242/249

Wednesday, November 05, 2008

Old short tatapower

Short tatapower again. It hit the final target of 520 ish last time on the way down.
Now Tatapower has res at 777-800, sl 800/820/864. Bearish trend on eod ends only on a close above 864, basically its not gonna happen anytime soon. So I suspect its time to sell this rally.
short for 724-699-687-656-640-625
If 525 old low breaks tatapower could test 480-430 region, but that will probably only happen in a panicky market and no real signs of that yet.
U.S Market is already down so tomorrow will be a gap down. I actually gave the short call on tatapower and rel today intraday around 760 but you can play your own levels.

Tuesday, November 04, 2008

Corrrection soon

Can't give the exact top, just look for a top on hourly charts.
Target 3000-2950-2900-2850
Major res at 3260
then at 3565-3640
problem with shorting up here is if you short too early you get stopped out
and then miss the real move down. so one can wait for hourly charts to confirm a top and then trade the charts with the proper stops