No longs ….

The trades are now very much confining to intraday but no longs till markets cross the 3350-3400 decisively on Nifty.
The markets are dwindling to positive and negative news as the case may be but won’t go any where from here. The regular readers will find the piece of news about the 20-20 percent move.
This time the markets met the final leg of fall in case it goes down, it will be confined to the worst scenario case to 2630-80 level that to after a consolidation of 40-50 trading days.
The economic activity will be centered around the infra structure building like ports, air ports and SEZs. The mining activity will take place heavily in 2010 onwards. But for now the projects initiated like power and distribution companies will do well in coming months along with the cable manufacturers.
For today, the Nifty is strong so long it trades above 3130-3120 level. The US and other Asian markets red will force us to open in red but no fresh shors are advised at this point. The markets will get short covering above 3280 level and will add at least150 points. The Reliance above 1460-80 level will spur the short covering activity until it reaches 1680 level, then the market is ripe for fresh shorts that will give safety and high returns with out nightmares.