==>> Markets closes flat

Markets had a very volatile session throught out the day. Index swing from the low of 300 points to almost positive zone and then again back to the negative teritorry. Indices ended the session on a flat note. In the early trading session there was a gap up opening on the back of week US markets. Sensex was down nearly 300 points to make an intraday low of 14394.19, but closed higher at 14016 just down by 2 points. Short covering in the closing session lead the markets to cover all its lost glory. Index zoomed to the positive zone. Buying in the frontline stocks lead the Nifty and Sensex to close almost flat. Nifty made a low of 4143, closed at 4247 down by 11.75 points or 0.28%. Nifty closed just below 4250.
In the early trade Nifty made a low of 4143. In my last blog I had mentioned that the Nifty below 4251 can fall down to 4205 and the close below that the Nifty can test 4189-4159 levels also. Nifty took good support at 4164 levels and then pulled back. It never turned its back to the point. Markets continued its rally. We had a pretty volatile session today. But RIL counter saw good buying. In the Daily chart of Nifty, a "Doji" pattern have been created, that may prove that the markets may turn positive. In the Past also we have seen that whenever a Doji pattern is created at the lower level of the markets, or after some correction, we might see some pull back. As Indian markets too depend on the Global markets too, and if they turn out to be positive then the Nifty may be pulled back to 4350 levels. RSI is also at its 50 value. This may also turn to be positive sign..
Some of the Buy calls which have been given in the open markets were...
BTST
BUY Relcapital at 884 tgt 898-918.
BUY Adlabs at 35.5 tgt 361-374.
([15:13] vishal_retail: If the Nifty closes flat then it will be the very good. Nifty will make a Hammer like pattern, that too at the lower levels. If the Global mkts endeds flat also, Indian mkts can outperform the other mkts. BTST Nifty futures)
Fresh built up seen in Nifty, ACC, JP Ass, Ibreal, Unitech, Relcapital, SBIN, Ttata Steel, Idea, Rcom. Long built up seen RIL, RILinfra, ONGC, NTPC, T Power, LITL, IVRCL, HDFC. Short covering in DLF, LT, Punj, Suzlon, HDFCBank, ICici, Jindal steel, sesa goa, MCdowel & titan.