SHORT COVERING DAY

Markets went about discounting all weakness here and globally to rally to above 5000...cross of 4950 was the short covering signal ..Huge OI build up during the day of the PUTS abt. app. 78lacs and covering of app. 22 lacs calls shows the days Positive trade..The market is right now completely in bulls hands and RIL did the magic in last 2 hrs..(1802-2130)..So what next..hope all gains were booked today..Markets should have resistance at 5050 zone and supports now at 4950..enjoy the day cheers.

MOVING AHEAD

Markets gave signal of profit booking yesterday..OI data suggests resistance in 4900-5000 zone for the coming days with supports around 4600-4700 zone ...trade with caution going ahead as 4950 may offer resistance..supports lie deeper down so trade light and in the direction with strict SL so as not to be caught on the wrong side of the trade..enjoy the day cheers