Back after a long time... & my last post when nifty was 3000 (Its alive) to 5600, what a journey, spectacular. I believe this is the final lap before a significant correction steps in... ofcourse the move has been dead after the initial jump as since in last october (2009) we touched 4998 & in the last year Nifty has been dilly dallying with a 10% move up in 11 months.... not the kind of bull market we were looking for, is it ?

Most of the cats & dogs stocks have been moving since a couple of months & Index has been smartly manipulated with rotation of stocks & major thanks to the Oil companies. Ofcourse SBI with interest rates rising is rising alongwith.

Now after todays move of approx 100 points Nifty, we are standing at cross roads again, sustaining above 5580 is important & a daily close below 5550 will be not good for the bulls.

Below is the daily chart of Nifty, saying it all:

Ofcourse September is the Mutual funds Half yearly NAV so I doubt if the will let the market slip, rather they are prone to holding the markets as we witnessed in the last few days...

on the other hand option data suggests no further big upside this month...

All the Best to your trades.