UNMATCHED RALLY TODAY..

markets were gearing up for such a sudden move from the last few days( very quick recoveries on falls was a silent signal)..& BULLS SHOWED THEIR MIGHT , remember had said support at 4335-4304 & ABOVE 4400 BULLS TERRITORY..markets ran with crude fall in mid day..short calls from the last few days completely got squeezed out , seeing the premium and the way nifty future ran..finally moving into overbought territory intraday and as we moved up fast, caution is required also as we can dip hard too with bears always waiting for the opportunity to attack....global reactions /clues will give clearer direction on thursday to us after the holiday.. crude too is recovering and can get back to respectable levels again promting the euphoria to subside suddenly..we may hit resistance in the next resistance levels of 4572-86..NS ,in case we move up from here..NF managed to cross its weekly target of 4511 easily in 2 days..enjoy the break..cheers

CRUDE MELT DOWN...

Crude after making some noise till $ 120..is hovering in the region of $111-112 , with hurricane GUSTAV losing momemtum ,any break here can take it further down,which is a good news for all the markets specially asia..markets made smart recovery yesterday..closely watch 4364-4390-4398 range for resistance & 4335-4304 for supports,,only a few closes above 4400 can take us towards recent highs..being a truncated week with a holiday tomorrow , there may be cautious low key moves today..trade accordingly..cheers