In a single day the Markets have turned around from negative to positive, it rarely happens thus its a cause for joy as well as worry. Is it a trap ? Obviously there was a lot of short covering. Next couple of days would clear the air & as it is we are starting the result session from tomorrow. On the upside the NIFTY is likely to test 5969 - 6060 & on the downside it may drift to 5861 - 5823. Long positions can be taken in AXISBANK for a target of 1495, HDFC for a target of 740, HINDPETRO for a target of 380, IFCI for a target of 61.
JUST BE CAUTIOUS............. CHEERS !!!
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