18-8-2009 trading created in the minds whether the rise yesterday is just a bounce after major fall or not?. Nifty closed at 4458+71 points. FII sold in cash, index futures but bought in stocks futures. F&O nifty futures is -9 lakhs option writings more puts at 4300-4400. Global cues are just positive. SGX nifty is also +ve.

Over all view: The technical indicators are all showing a fall but markets took support on the trend line. Range bound for today but if markets fall below the nifty 4350/ sensex 15000-14700 we see very big correction up to 12200 sensex. This is the target of rising wedge breakout on the daily charts too. Let us wait for breakout. But rumors in the bazar is that sensex to go up to 19000 in the near term??????