3-6-2009 trading is at consolidation/reversal mood and nifty closed at 4531 +5. FII data is just positive in index futures and cash buying but they continued more selling in stocks futures. More stocks are at reversal path. F & O data is nifty future - 4.9 lakhs and more put writings than call writings means markets may go up further. But as the over all build up is less and this is only 1 st week any thing may happens to the markets. (first go down and build up longs else vice versa). Global cues are not positive.

The positive point is President's speech in the joint parliament session today. Some thing may be spoken about the economic reforms that may leads to upper swing in the markets.

Over all view:
nifty long above 4570 or short below 4470. If falls below that nifty may correct up to 4320-4350.
Upper side 4650-4750-4850.

s2=4432 s1=4481 p=4528 r1=4577 r2=4624