Global markets are upbeat today. Japan’s Nikkei is 1% up, Hang Seng is up 1%, Shanghai Composite and Straits Times are also up a percent each. NASDAQ is at 15 month high touched 2250 in yesterdays trading session, European Market CAC, DAX And FTSE gone up by 1 to 2 Percent each. So overall global mood is quite bullish today.

Indian Market will also trade inline with expectation, Nifty is near the supply zone of 4990 to 5040. It will face stiff resistance at these level, Right now it is at 4940 so any intraday bounce should be utilized to exit longs and one can also open a short position, below 5050  market trend remains downward , so trading direction should be downward only.

Market strategy is to hold on to your short positions taken earlier, or one can create new at 5050 with tight stop-loss of 5080 on closing basis, first downward target is 4930 then break below that will push nifty to 4790.

Yesterday the market came very near to the target for the short we had on the nifty but nifty short at 5050 are still are a hold as there is still weakness persisting on the markets.

Indian markets will open inline with its Asian peers. all Asian markets are showing no signs of certainty. Nikkei is trading 0.5% up, Hang Seng, Shanghai composite are in the red with cut of 0.5%.

Indian Markets are in for another range bound session ahead. Nifty will have stiff resistance at 5050 and has good support on 4930 and 4910 levels. For last 3 weeks on the nifty, consolidation is going on as the base is being form here, but weekly close below 5000 has increased the chances for nifty to go down if no recovery happens. if nifty doesn’t take out 5000 level on the upside then we are looking at the nifty levels of 4750 in next 2 to 3 weeks time.

Market strategy is to hold on to your Shorts taken at 5050 on the nifty for target of 4930 and keep a stop-loss at 5020 on the closing basis.

I am expecting a bounce-back whenever nifty touches 4930 – 4910 so adventures traders can go long for some minor gains, but keep one thing in mind below 5000 Nifty will be in immediate downtrend so trade accordingly.

Asian cues aren’t that great, almost all the major indices are trading in red. Japan’s Nikkie and Hang Seng  are trading with 1% cut, Shanghai composite is down 2%. US ended in red yesterday on the back of worse then expected jobless claims data.

Market uncertainty is ruling high and  breach of support level could see violent swings on the downside, Nifty will open close to 5000 today and 4990 will be the support tested if this gets broken then last hope for bulls is to save 4930 below which there will be bloodbath in the markets. Nifty is expected to trade in the red for most of the time and close below 4990 will further increase the weakness.

Market strategy given 2 days back to short the nifty whenever a close below 5050 come is going in the right direction, so hold on to your short position with stop-loss of 5080 and target  is 4930. continue to hold this position for days to come till your target is not achieved or your stopped out.

Strong Doller continues to outperform Euro as dollar has scaled to a new three month high. following the US markets Asia is trading mixed with range of anywhere between 0.5% to -1%. Hang Seng is down close to a percent Nikkei is showing miner gains and Shanghai is in the red with a cut of about 1%..

Indian Markets are also expected to open flat. Nifty will face stiff resistance at 5080 and 5120. trade below 5050 will indicate bearishness and major support level of 4990 might be tested if Nifty turnarounds.

The market has become choppy within the 200 points range of 5000 to 5200. with  India VIX for Dec 16, 2009 -  at 27.36 indicate increase in volatility.

Market strategy is to trade with negative bias as outlook for short term looks timid. For today try to avoid intraday trade and look for closing levels and make fresh position based on that, if Nifty close above 5120 then take a long position and if close below 5050 then create a short position and avoid taking position within the range.

Compulsive Nifty trader can short the nifty at 5080 for target of 5030 and keep a stop-loss at 5120.

Asian cues are negative with modest cut across all the market. Shanghai and Hang Seng are down a percent but Nikkei is up in the green with 0.5% gain.

Indian indices are expected to open flat, Yesterday’s fall was expected and written, if in next few trading sessions market are not able to close above the level of 5050 and if by any means trades below the level of 4990 then a sharp fall to 4850 is strongly expected.

Markets are awaiting for next trigger, which will most probably come from RBI rate hike or increase in CRR. which will in turn be negative for markets as lower levels of 4750 can be tested.

Market strategy given yesterday provided handsome returns as short position  on the nifty shoot pass the desired target of 5080 and closed at 5033 levels.

For today’s trade watch the level of 5050, if markets are able to trade above this then there might be a bounce back but if they consistently trade below 5050 which is expected to happen then create a short position on Nifty for the target of 4990 and keep a stop-loss at 5050.