Current market is range bound. Nifty has been moving in the range of 100 points. 5183 is a strong resistance which nifty was unable to breach. Many times Nifty touched this level but was forcefully retreated. Currently market doesn’t seem to have the momentum to breach this level but bulls are trying hard to breach these levels for Nifty.

Advice for traders: Once these levels would be breached our next target may be 5300-5350-5500. To the lower side a strong resistance may be seen at 5051-4900 levels. If these levels would be breached than the next target would be 4700-4800. Stay away from the market till it breaches either level or trade with small volumes. Once any of these levels breaches a sharp movement may be seen. So wait for 20-30 minutes once any of these levels breaches and than trade forcefully if market sustains.

Advice for Investors: Currently market seems to be up till December end. Some choppy market may be seen next year in 2010. But current market seems to be good for investors. Plan for 2+ year of investments, wealth can be multiplied if invested in right madcap stocks. Invest only 50-60% of your amount at this point as some downside movements are expected and remaining amount should be used at that time to average the price levels.

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