Markets for this week: The nifty for the July series is trading in premium but index is in correction mood. Nifty future added 11+ lac shares. Global cues are not so bullish.
Nifty is in the process of breaking the 5400 barrier, for this the last back walk is going on.  The support levels are 5240-5150. Previous day's trading shows that though the markets corrected the put option prices were fallen from the day's high means the writer is not in worry. Have a bullish view after one/two days back swing for the coming 2 weeks. Wait to have a call option.

NIFTY AT A SMALL CORRECTION STAGE

Nifty yesterday traded as expected up ward though the Inflation data is at higher level and reached resistance levels 5200-5212. Now FII data is +ve, OI data is +ve, bought in cash. As Dow corrected overnight we expect nifty to correct today and may test 5111 maximum. Wait for a chance to buy calls once again. This month target 5290. Next month target 5500.

Now the markets are bullish

Nifty is at 5119. In the month of June markets took upward journey with nifty future discount of 20 points. Due to  this markets were corrected downward and took support at nifty 4935. Now the discount was reduced and all the world markets were weathered for UK problems and took double bottom support in the charts. As seen from FII data and weekly charts markets took up turn. This will be confirmed by nifty breaking 5185 immediately. Then the target for nifty will be 5500 medium term and 5250 short term.