Above yesterday's high of 4358, market can go upto 4420 and 4450, however looking at the price movement of Reliance & Infosys, this possibility looks very remote. Both thsese heavy weights are looking tired and ready for the next downward move. On squaring of time and price, the market top already seems to be in place. Whether market will have pull back upto 4420 will have to be seen today.It is also pertinent to note, that today is the last trading day of one of the Maximum Gain Months. There are two factors to be noted here - this month is the 3rd consecutive +ve month and that too with more than 30% gain (i couldn't find any other canlde with such major gain) . Whether this is a sustainable here onwards, is a point to be considered when we think bullishness from here onwards.
Happy Trading,
Ketan Asher.
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