==>>Nifty Stong rest at 5368-5400

Nifty opened in the positive zone, taking cues of rising global markets, good break out yesterday and positive Rail budget. The Bulls celebrated with buying in the front line stocks pulling the index to 5368.

Yesterday it was see that the Nifty close was exactly at our “REST” trend line. The index opened in the positive zone and the rally continued till 5368.15. During the trading hours at 10.33 AM, I clearly mentioned that the Nifty has a strong resistance at 5368, and clearly mentioned to book profits in Nifty future at 5360. I have clearly mentioned in the early trading session when the markets were almost on the top (nifty around 70+, sensex 300+) to reduce their positions and keep booking profits.Investors can clear see the Nifty dropped from the positive zone of around 60+ in to negative zone in the late hours.

During the trading session I had given buy call on IBR above 197 with the tgt of 200-210 at 12.23 PM. Touched the high of 210.4.

Nifty resistance levels at 5368-5402-5450.
Support at 5200-5176-5140.

The trend is still not clear. You may see some selling pressure tomorrow also, due to candlestick pattern made in the Nifty chart. The trend will be decided in 1-2 days, depending on the pattern of the chart. The support of the “REST” trend line in very important

Friday Finance Minister will announce the Budget for 2008. The markets are going to be very volatile tomorrow. Its better to take rest from the trading part. As such my investors have earned Bumper profits in the last 3 days in Nifty, LILT, JKIL, IRB, JP Associates, ON mobile, and RPL.