Kaminey

I got up in the morning today with this feeling that we could see a small bounce today in the markets. The Kospi and the Nikkei have seen a small bounce. However my belief remains that if Nifty trades below 4350 one should go short. We could easily see Nifty move to 4000-4050 in the coming days.

When one looks at international markets, one sees that S&P is close to changing its trend to down. HSI and Kospi are one day away from a potential change in trend. HSCEI is already into a downtrend. Among commodities, Crude is in a downtrend. Copper is still trending up. Gold really has been in a trading band for a long time. Even in cases where the asset is trending up, it is just a couple of days away from moving into a downtrend.

So we can say that the world is poised. Could break either direction. Given the lack of flows in the last one week, I would think that the chances are greater that we are headed down. For Nifty, the first target of this potential downtrend is 4000-4050.

Since I started trading commodities in India, I have found them easier to trade than equities. The trends are fast and furious. Problem is that currently I am long copper and lead. And this is worrying me. There is a strong possibility that we might hit the stops in them. Good thing though is that I could get some good shorting opportunities in crude, nickel and zinc.

Watched Kaminey yesterday. I will reserve my comments for later. If you watched it let me know how it was A] F-F-Faltu or B]Jhakaf.