Overnight cues from US markets and asian markets have been down.Nifty is trading flat at 4873.If it starts trading above 4875 one can buy with stop loss at 4834.But the position should be pure intraday as there are lot of events in the next couple of days.Infact the risk reward ratio is not good, so the best advise is to stay away till a clear trend emerges.A close above 4912 is positive.Dow Jones and S&P 500 have already generated fresh sell signals, so extreme caution is advised on long positions.There is a time cycle date on 26th Feb 2010, which coincides with another time cycle date of March 1st 2010.Two nearby time cycle dates which are preceded by events like union budget could turn out to be major turning points.The dates hold good for the entire world markets so the event could be anything.Remain extremely cautious.Stay light on positions.
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