SUPPORT HELD

Nifty held on to its level of 2860 below 2900 and we closed for the second day over that level.RIL again came to the support and in late trade made impressive move.We have completed 7 days of positive trade and people who are short must be having a harrowing time seeing the market run up so fast and the falls so shallow..the range now is 2860-2940 app. Any break out will take markets 60-80 points quickly in that direction..Trade light and with caution...Cheers.

CAUTION AHEAD

Our markets have made a smart move from the 2600 levels , now will have to consolidate the gains over time to surge ahead. The lows of october have not been breached now for over SIX weeks.Watch 2890-2900 for any weakness for today , support will lie at 2825 deeper down and resistance in positive mood should be in zone of 2990-3020 again. Keep booking your longs and wait for buy in dip for longs..Cheers.