Markets may rally further taking nifty to 4800 & 5000

Even as the market has rallied substantially, it may still have some steam left to take the Nifty to 4,800 levels ahead. the possibility of the

Nifty breaching 4,200–4,300 was slim as there was enough money in the market chasing performance. “We have seen the global emerging markets allocation having upped the India exposure. We have seen 4 billion of cash come into the market as against USD 19 billion that went out last time. So we do not see much downside at this point, adding that while there may be sector rotation in performances, the markets would continue to range at current levels.

Nifty is looking very strong to move up. If it crosses 4640. I am very sure, nifty maymove up to 5000 levels with minor resistance at 4800. Hold all buys, as long as nifty holds over 4540. next support at 4420.

exit all buys here..

I expect there will be shift in sectoral momentum to those which laid dormant wth out participating in the previous rally. It would be better to exit Reality, shipping, cements, sugars for a small period.. and better to take positions in Telecom, commodity based metal stocks and power sector..

Best wishes

Have nice profitable week