4-11-09 trading bounced back the previous day's fall and nifty closed at 4711 + 149 points.

• FII data bought in cash, stocks futures (3 rd day longs) and index futures (cleared previous day's shorts).
• F&O nifty futures sheds 23.4 lakhs (cleared previous day's shorts).
• Options writing shows that calls shed open interest and 4600 puts added hugely.
• US markets traded in green but closed flat.
• Global markets are in red.
• SGX nifty green overnight but red now.
• Most of the stocks futures sheds shorts.
• Market is still below 5 day ema .
• Technical indicators are just turned up from over sold zone.

Overall view: As expected, while reversing the market most of the shorts in index and stocks futures shed and nifty gained the previous day's loss completely. Unless we see the reversal again markets will rise further before resuming the fall.

Nifty targets are 4750-4860-4930. Supports are previous day's low.

For believing the rise today's trading is to be observed for any support build up of open interest in index and stocks futures. Otherwise the fall will continues....