NIFTY DAILY - 40 DMA SUSTAINED

Nifty ended in green at 5103 posting a gains of 40 odd points on the cards.The markets opened absolutely flat with no gap movements ,holds support at 5050 levels and rises higher.The markets found strong buying around the 5050 levels,markets have tested this level a number of times in past few sessions,increasing its validity.Now it is expected to rise further accomplishing the 5200 levels.The weighted expectations of the participants also is indicating towards the same direction

          Today the overall markets breadth was positive with 752 advances to 692 declines.The markets will need stimulus to move ahead strongly,On account of the RBI policy out come bank-nifty is expected to slightly under perform.The  downside seems to be capped at 4950 temporarily.Nifty has bounced from the 78.6% retracement level forming a double bottom.                                                                                                                                     Broadly i eaxpect nifty to remain in the narrow trading range , since markets lacking the fundamental  fuel to ride the economic vehicle.I continue to remain with buy on dips strategy.