7-5-2009 trading shows that markets are rising but nearing the strong resistance levels. FII data (no direction yet), F & O writings (a small reversal in nifty futures open interest), global cues (stress test results are out but no + ves) are slowly fading out the positive points. We are nearing for election climax.

Nifty closed at 3684 +59 points up. Some scripts are ready to fall ( may they require one more day). If nifty 3520 broken we may see further correction. Lowest point may be 3150 zone. Any shorts are below 3520 and stop loss will be same. Wait for one more day for reversal confirmation.

Nifty levels 3720-3780-3800.