Market May Remain Open For Further Advances

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As I said in my last report on market tomorrow that "Market May Remain Bullish", and the market performed same as I predicted. If we see Nifty daily reports and charts, at present the indicators have yet to reach overbought levels and Nifty remains open for further advances. Weekly charts continue to possess sustainable strength. The index remains above important medium term levels which currently stand at 5,410. From a medium term perspective the uptrend remains undamaged. We continue to hold a positive view of the trend at this juncture. Resistance may be encountered in the 5,600 - 5,625 region.

The rally has reconfirmed the uptrend in the market. In case of any correction the market is likely to get support around 5,450.

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