==>>5100 in Nifty and 17000 in Sensex just a kiss away

Are the Indian Equity Markets again in the Bull Run???

Budget which was presented in the last month gave some trigger to the Bulls. The markets once again saw some positive momentum after almost a month of lackluster trading session. We could see some short covering in the F&O stocks. Frontline stocks in the start of the week saw some real buying mode. Punters continued to press the buy buttons on some select stocks. Global cues were also positive. Despite the on going pressure on the Euro Zone, Indian markets continued to rally. Sensex zoomed to kiss 17000 mark in the week. Sensex rallied almost 700 points since the Budget day. Nifty too traded above 5100 levels but failed to closed above the same.

All the Indices closed in green. Sensex and Nifty closed nearly 3.5% higher. While other Indices closed nearly 5% higher. Tata Motors gained nearly12% in a week and M&M was up almost 7%. RIL after the fallout of the Llyondel Buyout gained nearly3 %. Bharti Tele was up 7%. Rcom 5%. Jet Airways gained nearly 23% on signs of recovery in the aviation sector. Increase in the prices of cooking coal added fire to the Gujnre coke which surged nearly 20% in a week. Steel Stocks surged in the week. JSPL was up 10% while Tata Steel & Sail was up 7.5%. Increase in the Cigarette prices of ITC will be passed on the client. ITC was up almost 5%. Puravankara Projects shot up 11.95%, after company infomed the 50:50 JV with Mexico-based Homex. In the smallcap space, Sulzer India was locked at 20% upper circuit, as it approved delisting price of Rs 870/share. Zicom Security sold electronic security system business for Rs 225 crore to Schneider. Zicom's current market cap stood at Rs 155 crore.

In the week, FII’s remained buyers to the tune of Rs 3,200 Cr, while DII’s remained sellers for Rs450Cr. Is this the beginning of another BULL RUN?

Last year after the Congress broke out in the election, which was the first step towards the bounce back from the lows. The Bull Run was haulted in the start of the year 2010. Markets men were waiting on the sideline to press their buy buttons. Everyone was waiting for the big day- BUDGET DAY. Budget presented by Pranab da was not so good and not so bad. Altogether the Budget for the year 2010 was OK. Post budget Markets rallied almost 4% till now.

According to me Nifty has bottomed at 4800 levels. Nifty took good support at the 4600 levels i.e. 200DMA. In the week Nifty crossed over the 50 DMA & 100 DMA. RSI have also turned positive. Markets will continue to rally for sometime. Nifty will find good support at the 5000 levels. Nifty on the higher side will face resistance at 5115-5185 levels. Volumes still remain concern in the market. Once the volumes starts picking up in the market, It seems that the nifty will surely cross over the high which was made in the recent past i.e.5300 levels.

Buy Infinite comp with SL of 195 tgt 240++

Buy Reliance near 960-980 levels. Tgt 1400++

Buy Bharti Airtel with tgt of 340++

Call on Zicom was given for 2009 Diwali Mahurat trading at 100.