NIFTY closed above 4750

BULL BEAR CONVERSATION BEGINS

TechnicalTrendz: You Guys taken NIfty to next level ?

BULL:What a relief after closing above 4750 ,WoooW really.we think make guys sitting in sidelines will enter in to this market know.FII buyed 1060cr equity Today this will help us to move towards our really target 5000 NIFTY.

TT:SO bear what will be your stratagy now ?

BEAR:we think a one day break out can't be called as a technical breakout of that range.let nifty stay in this range or higher for two trading days,then only we can say a technical breakout.

TT:we saw huge put writing in 4700 PUT all most 8 lakhs of open interest increase in todays trade

BEAR:yeah,its a worrying factor for us also

BULL:we think short in that region will cover in two trading days,that will take easily towards 4850 in this week

BEAR:we think shifting of index funds from NALCO and TATACOM from JPASSOCIATIES & IDFC also help BUlls to move this much in single day.

SO ok guys see you tomorrow