Markets made a new high since 1^st time since Jan 2008 crash. Nifty made a high of 6223 and Sensex 20706. Sensex was just few hundred below its all time high of 21207. Indian Markets seems to have a very rough time in the week. Markets were very volatile. Nifty in the week made a high of 6223 and low of 6067 and closed at 6105. Sensex closed at 20250.

As mentioned in my last article also that we might see some correction in coming week. (In the last week there was some indication that the markets will see some correction but markets continued to rally and closed few points below its all time highs. We might see some profits booking in the coming session) last weeks lines. After the good rally on the last day of the last week. Volumes have very well in the volumes, but still the markets corrected in the week, Nifty tanked down to make a low of 6067 and Sensex made a low of 20145.

Technically markets are in the correction mode. As mentioned in my earlier article also the markets are in the overbought zone. Nifty falls below the current levels then it will come to 6073-6035 levels. RSI is been correcting and trending downwards. MACD is given sell signals.

Last weeks call:

Buy Axisbanks close above 1582. SL of 1555. Long term tgt 1690. Could not close above 1582.

Buy Baja Auto above 1547. SL of 1535. made a high of 1615

Buy Bharat Forge close above 375. tgt of 390-395. made a high of 386.

This weeks call:

Short Tatasteel tgt 605. below 625. SL 634.

Buy Reliance only above 1055 tgt 1075++

Sell Bhartitele below 350 tgt 333. SL 359.