The Asian surge….

The Asian markets are trading in green with a positive move up wards by 2.5-3.5% but with an exception of Shanghai Composite in red. The markets are filled with josh that could lead this rally further as the negative data coming is not surprising to the markets as it is used to live with.

The SGX Nifty is suggesting that the Nifty is well above the resistance level at 4265-80 level and currently trading at 4335 with low as 4265. So the markets shall run on its course as the Bulls are hungry for more. The Nifty could be expected to touch 3381-4408 in coming days as the momentum is well in place. The fag end of the run will be fast and surprising.

The good policy is to avoid fresh entry at this level. The Nifty likely to get support at 2935-65 level while coming down can be an etry point. The Nifty built this empire with a classic bottom building process at 2565 level for 3-days and 2740-2773 for 3-days and 2962-66 for 3 consequent days. So even by simple averaging theory suggests that the market has good support at 2775 level.

The Reliance was the first to move the Index has resistance at 1848 level and good support existed at 1535-15 level. The Rel-infra has the potential to touch 609-11 level and likely to touch 669-73 level in coming days so long it stays above 551-53 level.

The Banking giant though lagging the run but has potential to touch 1320 level if it stays above 1060-65 level. The ICICI bank is the most battered stock even in the recent bull-run is running in line with others but with great exhaustion may face resistance at 393 level but can be expected to touch 416-21 level. The stocks like NTPC, HDFC, HUL, Axis Bank and Bharti are becoming hot favourites for Shorting.