Sharp rally over????

The markets are crwling with little hope on the immediate future. The world economy is improving but the snetiment is favouring the Bears.
The 3G auction is just pouring money into Govt. kitty and it is even eliminating the marginalised players in the system. The important service is being captured by the strong where they rule by charging services heavyly on the interactive mobile applications be it banking, movies, games and other applications.
The Nifty in a week gained from 4985 to 5212 level in 5 trading sessions is a very good sign for an healthy market. The stocks that out performed are finding more support than the laggards crushed in policy changes. The market covered the lagging sectors like sugar, reality along with the fornt runner banking and auto mobiles. The new highs made by Axis, LICHousing,ING vysya, PFC,REC, BajajAuto, Ashokleyland, Escorts,Titan, Cadila and other stocks are still left with more room. The serious concerns were getting exposed in the commodity sectors like Ferrous and non Ferrous but the precious metals gliters across the globe. The value buying will emerge once the final leg of euphoria gets settled.

The Nifty is good above 5145 and the bottom support is seen at 5118 for the Nifty to target 5480+ provided the global turbulace takes a back seat. The RIL is to stay above 1040-36 level to maintain the sanctity of the Bull move. The ONGC also has to contribute at least not dragging by hovering below 1029-26 level.