27-3-2009: As per today’s trades the markets shows violent up moves than to down sides. That means to provoke all bakaras to go long very quickly? Nifty closed at 3109 +26 points. FII and F & O data is positive.

Dow is weak but don’t know whether it leads to further fall or not. After a rise of more than 20 % rise in Dow it requires considerable correction?

Before that steam in our markets should come down. It may take one to two days. May be the resistance is 3240-3300. 50, 20 day ema lines are aligning for the time being before a major fall and this may take time up to 3 – 4 weeks. Till then the markets are range bound at the lines it self.

Expected Nifty levels for April month 2800-3300. Sensex range is 9000-10500.

As all the technical indicators are in over bought zone one has to trade first to down side and later to up side. If nifty faces resistance at 3240/3300 and reverses then

Target trades: Buy nifty puts 2900 for nifty target of 2800 for this month.

If we get this target early another change of buying calls for this month.

Buy Nifty calls 3200 for nifty target 3300 if nifty takes support at 3050 and goes up.

For a more conservative trade: If nifty falls into the parallel channel drawn on the chart by breaking 3050 then the lower level is 2850 may be the target.