17-7-2009 trading shows that markets took huge jump crossing the resistance level of 4360 also and nifty closed at 4375+144 points. FII data, futures data, option writing, global cues are positive. As seen from FII longs buildup in index futures to the extent of 15 lakhs the markets are expected for rise even from this level. As expected earlier the markets may give huge profits to 4700 calls but before reaching that target we may see two to three days side ways/downward correction 100-150 points correction at shifting time of F & O. This may be in the 2nd part of the week. Then one can plan to buy calls 4600. Nifty has to come out of the rectangle in the chart either to go up or go down. Nifty levels in a broader view is more bullish above 4520 ( after some correction) and down below 4200-4150.

s2=4171 s1= 4273 p= 4331 r1= 4433 r2= 4492