mkt ahead...nifty view 09th mar 2011..

we are witnessing a rangebound but sharp intraday movement of nifty.

on daily charts yesterday the 5492-5525 gap was filled. i expect the eod short term sideways-down movement to continue until this friday, after which it might begin to rise.

again repeating, nifty has to close and stay above the 5562-5600 zone to move upwards.

the medium term pullback/buoyancy in nifty iam expecting to remain upto the second week of april 2011, toward the earlier mentioned tgt lvls and at the most the upper trendline channel resistance.

mkt ahead...crude oil(follow up)...

wti crude first tgt given 105 done, heading up to next given tgts 110/112 and 120(all in $/bbl).

mcx crude oil positional call/view given on twitter 2-3 days ago "mcx crudeoil current series fut closing above 4616-4620, tgt roughly 4940 and 5100, support below 4400 sl 3800 closing basis".