==>> Indices closed above their 200DMA.

WOW... wat a day this has been. Nifty closed up nearly 100 points at 3495. and Sensex closed at 11284 up 318 points. Nifty made a high of 3497 and closed near its high. Both the indices surged and closed above their 200 DMA. In the last few trading sessions I have been continously saying to book the profits, but the market are making new highs in the past few months. And I have been proven wrong. But the care has to be taken as the markets have ran up quite in the past few weeks and that too without any correction. Bulls this time have given a big blow to the Bears. Today being the 13th consecutive day for the markets to close in the green, the cautious mode is still there. Nifty and Sensex both are trading in the over bought zone. So some care has to be taken.
Volumes have also grown up in the last few weeks. Today Nse cash volumes were nearly Rs.21000 cr and BSE at Rs.7700 cr. In the last 1 year we havent seen these kind of volumes in the Indian markets.
Buy calls given in the morning.
1. Buy Punjlyod above 121.5- 123.75 - 126.25 - 129.5 tgt achieved
2. BUY GVK POWER ABOVE 26.75 DEL CALL…… closed above 28.