The markets rallied smartly on tuesday but the world indexes did nothing much but showed reversals, great softness ,despite crude really cooling off..markets by and large are moving up on lower volumes..some profit taking can be expected as even SGX nifty is trading down..& all intra day indicators have gone into overbought territory due to the huge single day rally..see where the markets open down, where they consolidate and before taking your trading call..BUY IN DIPS AFTER CONSOLIDATION could be a policy ..supports are at 4450- 4410 or deeper at 4368 and resistance at 4572-86..& further ahead is 4628-4650..stop loss for longs should now be in range of 4368.
cheers & happy trading
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