28-8-2009 trading, the first day of the new settlement, shows that with a small intra-day jerk nifty closed strongly above yearly high 4732 +44 points.
- FII data not yet fully supportive to this with volume build up in F&O.
- The nifty future addition of 13 lakh and option writings are showing positiveness.
- US markets are weak to flat. Global cues may be weak to flat on Monday.
- All markets are ready to fall and to enter fresh bear run led by Shanghai this time.
- Sensex has not yet crossed 16000 mark.
- Though it is strong enough to believe the bullishness one has to be cautious until nifty to cross 4780.
- Volume buildup in F&O by FIIs that may happen on Monday/Tuesday otherwise cannot believe this bull run and one may buy 4300 puts for this month. (Target may be below 4300)
- Bullish Nifty target will be 5000-5100. The technical indicators are also not yet showing reversal.
Be cautious until nifty to cross 4780
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