1-6-2009 trading shows that the rise continues further by crossing 4500 levels very easily. Nifty closed at 4533 + 84 points. F & O data positive further, FII data positive in index futures but negative in stocks futures ( even on previous day) means initial signals for reversals. DIIs are net sellers in cash???. FIIs are net buyers in cash. Option writing shows that more puts at 4500 were written means there is room for rise. No major build up in over all f & o data and before a fall this should be increased. Perhaps the operators are of the opinion to build up the short positions at further higher levels? Global cues are positive and SGX nifty is +ve. Nifty levels 4650-4800-4900. Nifty 4500 is becoming major support.

Over all view: Go long in every intra day correction target as above with stop loss 4500.

s2=4414 s1=4472 p=4509 r1=4567 r2=4604