Time for Caution

US markets ended lower below 10900 dragged down by weaker than expected economic data.Asian markets are too trading lower.Nifty opened flat to negative and currently trading at 5355 down by 18 points from yesterdays closing.Markets are crucially poised at the moment,looks like a top is already made or will be made anytime between now and April 14th.Watch the level of 5345,any close below that is negative .Two consecative closes below that nifty can see a significant correction.So extreme caution is advised from here on long positions.Investors can stay in cash by liquidating positions,traders who can short can go short with stop loss at 5385 spot.

Opening Bell

Dow Jones Industrial average closed 46 points up.Most of the asian markets are flat,but Japan stocks head lower amid profit booking.Nifty opened on a positive note,but presently trading flat at 5369.For bullish momentum to continue nifty has to trade above 5380, a closing above this level will further strengthen the momentum.There seems to be a consolidation happening at present levels.May be sideways movement for couple of days then the next move should start.For Intraday if Nifty spot starts trading below 5350 then weakness could persist.

Opening Bell

US markets closed on a positive note on Friday.Many Asian markets are closed today,in Japan stocks advanced but are off the highs.Nifty opened higher on global support presently trading at 5319.There is a strong resistence at 5330 levels,today infact it made a high of 5330 and has retraced.If nifty sustains above 5330 levels and closes above that then nifty is headed higher.On the other side if it is unable to cross 5330 then traders have to be carefull with long positions.