On the eve of moorath trading markets opened higher but could not sustain the rise. Nifty closed flat. But the under current is bullish as per mid cap stocks and momentum stocks. The less volumes can not give us the perfect insight for market swings. The heavy discount through out the one hour is some what tricky?.

• Nifty future sheds further means no short term trend reversal.
  
• Now US markets are bullish overnight.
  
• Global markets are bullish.
  
• FII data bought in cash, bought in index future but sold in stocks futures (as usual).
  
• SGX nifty is up.
• Shanghai Composite up & Seoul Composite up.
  

Overall view: As seen the rising wedge nifty has to face resistance at 5200. If crosses let us wait for the level 5330-5370-5400. This 5400 zone is just 75% retracement level of total fall from January 2008. My personal view is no danger for two days for longs. If there is rise with speed one may expect a complete swing reversal for the next week to close the settlement at lower levels may be 5200 zone after touching 5400. The correctionless run for the all time high within the financial year is also possible.

A view on Reliance: If crosses 2375 very strong chances of crossing 52 week high. More possibility now.