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02 January, 2009

BULLISH...

Yes. Nifty crossed 3000 and closed at 3033 + 74.

FII data + ve. F & O data nifty 6.4 lac addition. Stocks futures in some stocks short covering was observed. 3000 ce -1.6 lac ; 3300ce + 4.4 lac ; 2800pe2.3 lac ; 2900pe3.9 lac ; 3000pe3.9 lac ; 3100pe1.6 lac ; reliance 1200pe + 24000.

Today's news in BS paper is bullish by writing about Govt's preparation for spending of one lacks crore is also a sign for bull moves. New mechanism for financing NBFCs is to start by Govt/RBI.

Hence, the run will continue to up side with resistance near 3300. Stop loss nifty 2937, Reliance 1200. Targets nifty 3060-3160-3200-3300.

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