Today traders enjoyed the session. We saw nearly 200 points movement in Sensex. Indian markets closed the session on a mixed note with high volatility- the Nifty seen consolidating near 3100 levels. Pvt banking, metals, auto, oil marketing companies attracted good buyers. Volumes were also pretty good as compared to the few trading sessions in the past. We have rarely seen volumes of Nse cash above Rs 10,000 Cr. Last we have seen in the month of Dec and few trading session in Nov. Technically both Nifty and the Sensex are in the Bullish mode, But Nifty has a resistance at 3150 levels. In the last 2 traidng session Nifty tried to make new high of 3150 but failed and today it closed at 3128 after making a high of 3141. Yesterday Nifty closed above the above trendline (see chart), but facing resistance at 3150. break out above that is must, and above that nifty will touch 3250.Few Short term calls given on Satyam at 131, Gmr at 74, Sail at 91, Ril at 1310, mercator at 31 etc.
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