Equity Market Pundit

Hello Friends

As predicted in my last blog , ( I said in a pull back rally we could see resistance at the levels of 3884 on the nifty ) the nifty made a high of 3888 which is just four points above the predicted levels. The market still keeps on going ahead and and make few high ( although we had a pretty much of flat market to move on) And Banks perticulary steal the limelight making new alltime highs backed by real estate story and the infrastructure stocks we would like to see where probabaly it is headed.

It seems to be quite difficult to see where one would landup tomorrow if the markets move ahead which seems to be possible ( waiting for some sort of candlestick confirmation too which would come tomorrow) I think moving ahead on an intraday basis we should face resistance at around say 3898 levels and 3907-09...If the market ends with the big white long candlestick we may see the high of 3926 ( this level may even take couple of days to achive).

While for the low side we do have support at 3868 and 3856( we won't be needing this tomorrow)

On the individual stock front ( I seldom track them ) but it seems Mahindra Gesco has broken out and could see a 15-20 % rise on this counter

I do invite the comments of all the analysts and would like to know what they feel.