Nifty managed to cross the 2800 resistence and managed to stay above that for most of the day but ended lower to close at 2794.Sensex also managed to trade above 9000 for most part of the day,but closed at 8976.Shares of reality,oil and gas,capital goods and metals supported the markets in the upmove.But last 1 hour selling pulled the indices down on the back of weak european markets.Our markets are now mainly driven by movements in international markets.European markets were trading of days high after the job less data.US futures were also trading weak with dow futures down by 58 points.
Nifty 2830 is a very crucial level for bulls.If we sustain above that we are headed for 2950 levels.Till we close above 2780 we continue to be in uptrend,these levels are for positional traders.Tonight US markets could correct which might be reflected tommorrow in our markets too.But use dips to buy.We booked profits in Reliance inds at 1350 levels,target given in earlier blog was 1365,it made a high of 1361.We have built positions in midcaps.Next few days will give good trading opportunity for traders.
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