The move is solid and up-wards!

The markets showed a solid move participation from the laggards of the past and support from the leaders like ABB, BHEL, RCOM, Bharti, ICICI and last but not least is from metal space.
Those who took del. in Hindalco can prune by 50% at 168-69 ranges and the rest above 173-75 or at 158 as the case may be. As a matter of fact the screen is bullish but it stretched too far amidst of the gloomy views from leading brokerage houses. In case of a correction beyond normal on any single day can break the whole faith and the long-term bullish story of our markets. If we go back to history, the moves are sharp and wild but the solace is the intra day volatility is not there. So 50% saved but the up moves are very much stretched.
Nifty has good support at 4245-4241 levels. In case RIL trades below 1686 is the first signs of breaks in the up trend. The bullishness will end when RCOM trades below 503-501 level and Tata Steel trades below 606-608 levels. So no shorts for short gains but no longs for a longer period.