5-6-2009 trading shows that markets are at unprecedented rise by closing 13 week in positive. Nifty closed at 4587 + 14 points. By observing the angle of rise in the long term charts one can feel that markets are nearing to a peak and when will it reverses is the present question. Generally every one feels for a correction as per price movements but the operators are strongly pulling the prices up. Liquidity is more even today. All the parameters are for positive direction. But sure the reversal from this level is not small one. One can see 1/3 of the entire rise i e., 700 points in nifty.
Over all view: Long nifty until one can see huge call option writings and put option open interest reduction. Nifty may rise max 1 and half a day. Resistances 4650-4750-4850-4880.
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