Money Tree

Both NIFTY and SENSEX (at 12.00 p.m.) have recovered all the lossess of the morning and are now almost flat. The advance decline ratio has also improved to almost 1:1. Currently NIFTY is hovering around 4060.

Markets have opened gap down as expected and NIFTY fell below 4000 momentarily in the morning, however now at 10.10 a.m markets have recovered from the lows of the morning and NIFTY is around 4027 trying to keep its head above the crucial 4025 level. The market bredth is extremely negative with very fewer stocks in the green. Almost all sensex stocks had opened in the red.
Teledata Informatics is locked in the upper circuit at 67.35 and Page Industries is continuing its rally and is up about 4 percent at 440.

The NIFTY is currently trading at 3828. The crucial resistance placed at 3825 has been taken out and the markets are quite bullish and NIFTY might see 3850 levels also till the closing of the session. Remain long in your positions as once 3850 is taken out some short covering will be witnessed, which will take the markets further.

NIFTY has taken out the crucial resistance placed at 3805 and is currently trading at 3815. One should remain long in the market and wait for the next resistance level of 3825. Stocks like Unitech, Century Textiles, Zee telefilms, Ansal Properties and Parsvnath Developers are major gainers.