The Nifty gained 54 points over the day to close at 4855. After
many trading sessions the bulls made a decisive comeback
yesterday leading to a strong rally. After a gap-up start the index
stayed quietly in a range in the first half that took shape of a
bullish reversal pattern from which we spotted an upside
breakout around mid-day at 4818 levels leading to a huge rally
towards the end. The upmove was on good volumes and with
excellent momentum. Whenever the IT and Banking segments
have done well in the recent past the indices have moved up in

Intraday Tips

Tata Steel (Rs. 585)

Buy only on a move above 585 with a stop loss below 572 for an intra-day target of 605.

 Nifty Technical Analysis - Judgment Day

The Nifty gained 14 points over the day to close at 4867. The
Indian markets underperformed the rest of Asia yesterday as
they could not build-up on the gap-up start. After the initial rally

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Hero Honda Dec. Future (Rs. 1681)

Buy only in the region 1680-1684 with a stop loss
below 1668 for an intra-day target of 1710

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* Indiabulls Real Est. Dec. Future (Rs. 206)

Sell only on a move below 204 with a stop loss
above 208 for an intra-day target of 197.

* Aban Offshore Dec. Future (Rs. 1159)

Sell only on a move below 1155 with a stop loss
above 1175 for an intra-day target of 1128 and
1105.