Market Outlook for 8th June

Short Axis at 1212.

Hi,
As expected market opened with big gap down. As the global cues were -ve from Dow and other Asian Markets.

European Market recovered from its days low but still closed -ve . I am still maintaining my short position . I am short on Nifty Future. I have done the same which i suggested yesterday.


Tomorrow we can see a tug of war between bulls and bears. Let see who wins the game.
Tomorrow opening is very much dependent on the DOW .

But i still expect since there is still no solid measures taken the Euro zone concerns and even G20 meet did not gave any big positive news i donot expect the market to rally.

As per experts are concerned there are mixed opinion.

1:47 PM - Buy 5100 Nifty Call option at Rs 65 with one-day target of Rs 73 and stop loss of Rs 61, says Hemen Kapadia, technical analyst, on CNBC Awaaz.

1:42 PM - Nifty F&O Call: Sell with target of 4985 and stop loss of 5025, says Prakash Gaba, technical analyst, on CNBC Awaaz.

1:38 PM - Nifty F&O Call: Buy with target of 5200 and stop loss of 5000, says Hormuz Maloo of Geojit Financial Services on CNBC Awaaz.

1:35 PM - Nifty F&O Call: Buy with two-day target of 5070 and stop loss of 4980, says Parsh Zhaveri of Zhaveri Investments on CNBC Awaaz.


Let see tomorrow !! Wait and Watch !!

Market Outlook for 7th June

Hi,
We are having a volatile market from last few days. First Nifty touched 4800 then again some sharp pullback and now it is at 5100+.

If you look at daily Nifty graph you can see the big candles and range bound but fast movement from 4800 to 5200.

But the positive movement we got is because of the short covering. If some one has noticed the future discount got decreased drastically on Thursday close but on Friday close the discount increased again.

This show shorts are getting formed. If we get any bad global cues which are very likely because of Euro Zone Concerns and US Employment Data (which already came below expectation) it is quite likely that we may see fall in our markets.
Dow has also broken its 200 DMA.

The biggest news for market this Monday will be the Government decision for increasing the public stake in companies to 25%.
This is an actually a good step for the retail investor in the long term but it is point of debate how this will be going to impact in near term. The consequence of this will be lot of FPO.
But now the question comes up when so many big companies come up with their FPO within such a small span of time .Does the market is ready to digest such a big amount of FPO flood. If the answer is NO then the chances are that FPO will be discounted .
So the market may move southward.
This is just a speculation and statistics also states that as in last one year when there was ample of Liquidity government could raise only US $5.4 bn. But expected amount that will be needed per year after this FPO flood comes out nearly US$ 9 bn.

So Monday will be a decisive days where the market will be heading for near term.

I will recommend diluting and booking your profit at current levels and use the dips to buy and enter into the stock again at lower levels.

So I will go for SELL.
The risky traders can go for short on Nifty and Bank Nifty.


Many a technical analyst are in favor of long but I will still go for contra call and suggest short.

Their recommendations are taken from rediff money.

1:51 PM - Nifty F&O Call: Buy with target of 5170 and stop loss of 5065, says Hitesh Sheth of Prabhudas Lilladher on CNBC Awaaz. » Send to friends

1:48 PM - Nifty F&O Call: Buy with target of 5160-5240 and stop loss of 5070, says Husseini Wadharia of Techno Shares on CNBC Awaaz. » Send to friends

1:45 PM - Nifty F&O Call: Buy with target of 5165-5203 and stop loss of 5060, says Manoj Sachdeva of Hem Securities on CNBC Awaaz. » Send to friends

1:42 PM - Nifty F&O Call: Buy with target of 5150-5180 and stop loss of 5085, says Somesh Kumar of Karvy Stock Broking on CNBC Awaaz. » Send to friends

1:39 PM - Nifty F&O Call: Buy with target of 5170-5220 and stop loss of 4970, says Alpesh Furiya, technical analyst, on CNBC Awaaz. » Send to friends

Market Outlook for 11 May

Hi,

When most of the analyst was asking to go short on the market i went long on the market. No doubt i entered long a bit early in the market so i had to wait for two trading sessions to get some good profit.

Sorry i could not post the blog to go long but now as the market has bounced back now many think of going long now. But now i would like to maintain donot go long now.

We can get a gap up opening and see some gains but it is tough to say whether that gain will be maintained or not. There is quite a possiblity after opening we can see some profit booking and shorting at higher levels.

So i would ask not to enter at current level for long. Wait for some more rally then go for a short as the market will correct a bit even if not a much because of profit booking.


As per expert as concerned now they have mixed feeling. So we can expect some tug of war at crucial levels before seeing any big move.

Me holding Bank Nifty and Nifty Call. (Long)

Short Story of Human with Market

Hello,

Everyone wants money. Everyone wants to be rich. Everyone wants their wealth to grow. Are we doing anything different from the crowd? Everyone use one or the other method to get the same.

Here as the name of my blog suggest, all the people out here have one common thing in them. That's, they want to or have tried their hands in the Share Market for making money.

Now the question comes, is Share Market really a place to earn money?

The answer is yes as well as No.
If you are coming here with a perception that money can only be made here then I will say beware of the Market. This is a place where fortunes are made and broken.
Success and Failure story both float in the market.

Its up to us where we get banged on! Success or Failure.... Rich or Poor.... Profit or Loss....

You can find many articles stating the golden truths and myths (I too can state some by my own experience :) ) of share market. Everyone read them only few can follow. Its not that the person deliberately do not follow the steps , he wants to follow the steps but alas he cannot because of his greed or fear.

The Greed and Fear are the most important parameters of the market. Till the time it is there in the market, market will remain a place of unseen unexpected movements otherwise everything will be predictable or calculated by the formulas.

Market Outlook for 29 April

Hi Friends,

In my previous post i mentioned that the market is waiting for sharp correction. That time many a person might have tought it a just a guess but hopefully now your seeing the correction.

That too a hefty intraday correction  in Nifty. Now everyone will think of sqr off their long positions.

If you remember the bad news which is coming now from the Greece came earlier also but due to bail out package it is and other reason market did not reacted to this much . But this time all world has started bleeding. Adding to this Goldman issue has put oil to the fire.


Bears are enjoying the show after a long time. Even you check the level at which i asked to short the Hero Honda. Nifty remain +ve for some days but Hero Honda gave -ve returns.

So the shorters on Hero Honda according to my call are enjoying the benefit. I will still ask them to sqr it off tomorrow and book the profit.

welcome to my new upgrade blog

Market Outlook for 23 April

Hi ...

Today the market showed good +ve move in the morning but in the later part of the day it showed some profit booking into the picture again.

Market is swinging to small gains on Nifty but stock are still zooming. Today Axis and HCL was the star player.

One can easily understand the amount of money that can be made by going for any of their Futures.

But market seems to be due for a correction. But market showing +ve because of good earning numbers. If any big name comes with bad result then we can see the waited corrections.

Today i made money in Both trades Long and Short on the Bank Index. I was long so i sqr off at the high and shorted there and later i covered my shorts too.

So that no position at the close .... So happy sleeping ... for today ,

I would ask the risky traders to go short in the market on specific stocks. Go short on Hero Honda . It has given some very good results but this stocks comes under the presssure after giving good results. This is the history of the stock.

Market Outlook for 31st March

Hi Friends,

Its a long time since i was away from this big arena.
Here we not only need to fight with others but with yourself too. The biggest enemies greed and fear.

So i am back to the game. You can expect some regular post from my side. I will be waiting for your comments.

In few weeks of time market has ran quite a lot. It needs a breather before it can go up any more.

The risk traders can short the NIFTY.But i would i suggest investor to remain away from buying at this level.
IT stocks can also be shorted as the the Rupees is appreciating . Its putting the pressure on the IT stocks.

Correction in IT stocks can bring a short duration correction in the Indian Market. In case of healthy correction the investors can buy on dips but now keep away from the market.

Market Outlook for 17 Feb

Hi.

Market was a bit quite yesterday and even in the today morning it was very bound as it was not getting global cues. But today Europe +ve opening gave the positive energy back into the market . The market did excellent in last two hour of trading. It closed nearly at high of the day.

Tomorrow we can get some positive move. Dow is also up on the weak dollar so long on the Nifty.

Now the big news from the budget is expected. Let see how the budget performance on the expectation of the common people and market experts.

This is most important trigger which can take the market either way. Breakout or breakdown .

Market Outlook for 9 Feb

Hi .

Today market showed good amount of volatility. Quite a good day from smart traders. We got to see the short covering today. The short covering led the market close in the green today.


The Star of the Day was Jubilant Foodworks Ltd. (58%) up for the day. No one would have imagined in their dreams that the stock will open so strong. Many a analyst were even saying not to subscribe the same but the one who went against those views would have been proud of themselves.

Me Back

Hi Guys.

Sorry for not writing from a long time.
Market has corrected and gives some small pullbacks during the course of time . Last time the prediction of short covering did happened but it was quite late. Most of the shorts were rolled over for the month of Feb.

But there is a good news for the Nifty traders. Nifty has became volatile again so it is the time to make money agian as it was tough as earlier Nifty was trading in a narrow range.


This market is giving oppurtunity for both Traders and investors . Both has profited for this fall . Traders are getting big swings and Investor are getting some good stocks at a cheaper level then after a few months. They can accumulate but slowly.

As market may correct a bit more in  few months horizon. But in year span time we will in benefit from the market.

Market Outlook for 27 Jan

Hi .

As i have asked to go long on friday many a person might think that my decision is wrong. But i still believe those who have bought on friday are either at  their breakeven or at small loss which can easily come into profit.

The close on Monday on Nifty was above 5000 that still kept the hopes of pull back alive.

I am still maintaining my long position. As i have already mentioned while taking the position the person need to hold it for two to three trading session.I expect to see short covering rally tomorrow. But the main issue of not happening is very less support from the global cues.


But most of experts are bearish and giving advice for the sell but i am maintain my contra call :-
1:58 PM - In an F&O call, sell Nifty January futures with a target of 4950-4800 and stop loss of 5070, says Husseini Wadharia, technical analyst, on CNBC Awaaz  

1:50 PM - In an F&O call, sell Nifty January futures with a target of 4950-4800 and stop loss of 5070, says Husseini Wadharia, technical analyst, on CNBC Awaaz.  

1:45 PM - In an F&O call, sell Nifty January futures with a target of 4930-4980 and stop loss of 5010, says Jatindar Sharma, technical analyst, on CNBC Awaaz. 

1:40 PM - In an F&O call, sell Nifty January futures with a target of 4938-4850 and stop loss of 5074, says Manoj Sachdeva, technical analyst, on CNBC Awaaz. 

1:36 PM - In an F&O call, sell Nifty January futures with a target of 4850 and stop loss of 5070, says Somil Mehta, technical analyst, on CNBC Awaaz. 

Market Outlook 22 Jan

Hi.

Market showed some volatility on 20th Jan and closed 3 points down on Nifty. There was no major bad signal for the next day and we saw some profit booking in some sectors.
But banking index saw huge short building.   This is also because even India is waiting for the monterary policy annoucement.

But the Chinese monetary policy came as a big bad news that intaited the much waited trigger for the downfall. Today we saw the Nifty opening gap down and maintaining its downward journey through out the day. This gives very bad signal for tomorrow. Tomorrow also we will get gap down . We might see again some selling pressure. But i would like to add don't go short now.

As i have been giving cautious advices to maintain small lots  so that  in case of such unexpected situation we don't get trapped. As the stoploss would have got triggered for small lot quantity. I even maintained that there will be breakdown sooner then the later. Even the results of L&T helped in the same. Tomorrow big RIL result will going to come.

Wait for the market to correct and start the buying in later half of the day. If i feel the Nifty is not suitable for buying even in next half then i will update in the same post. So please keep tracking this post for tomorrow.

If you can take risk then buying at second half  of tomorrow can be a good idea. But this call will  be positional call and we need to call our positions atleast for next two to three trading session.

But i will say this is chance to add L&T in your portfolio for long term bet. Add it slowly . Soon i am also going to add new section or blog for the Fundamental analysis and long term goals. As many a person dont get enough time to track the market as a trader . Those can benefit from those articles.




Now the experts have a mixed feeling :-
1:59 PM - In an F&O call, buy Nifty January futures with a target of 5240 and stop loss of 5100, says Ashwani Gujral, technical analyst, on CNBC Awaaz.

1:55 PM - In an F&O call, sell Nifty January futures with a target of 5100 and stop loss of 5200, says Hitesh Seth, technical analyst, on CNBC Awaaz. 

1:50 PM - In an F&O call, sell Nifty January futures with a target of 5000 and stop loss of 5210, says Somil Mehta, technical analyst, on CNBC Awaaz.  

1:45 PM - In an F&O call, sell Nifty January futures with a target of 5120 and stop loss of 5230, says Neera Jain, technical analyst, on CNBC Awaaz.  

1:40 PM - In an F&O call, buy Nifty January futures with a target of 5250-5290 and stop loss of 5120, says JK Doshi, technical analyst, on CNBC Awaaz.  

1:35 PM - In an F&O call, buy Nifty January futures with a target of 5180-5200 and stop loss of 5070, says Nishant Jain, technical analyst, on CNBC Awaaz.   

Market Outlook for 19 Jan

Hi ..

Sorry for not writing the previous days articles due to some issues.
As i have given the call to book profits in IT index those person would have made big profits in the IT index.
around 36% return in 4 days.

Rs 36000 is earned from Rs 1,00,000 . That is a big profit . I would say.


Today we saw some selling pressure and profit booking taking place. This is some what good for the index as it was in the overbot zone from some time. Now it has come out of that zone. Now going long on the Nifty can be a good idea. Even i am putting my bet on going long on Nifty.

In last few days we saw some good movement in Bank Index. I will also suggest a buy for the same. As you might have noticed banking was the sector which was in green when all other sectors falled.

So go long on Nifty and Bank Index this can give you some handsome returns. Keep the stoploss for Nifty at 5180 as it a very good support.

Most of the market experts also feels that market will go up from here:-
2:00 PM - In an F&O call, buy Nifty5300 call with a target of Rs 60 and stop loss of Rs 35, says Ashwani Gujral, technical analyst, on CNBC Awaaz.  

1:54 PM - In an F&O call, buy Nifty January futures with a target of 5400 and stop loss of 5175, says Rakesh Bansal, technical analyst, on CNBC Awaaz.

1:50 PM - In an F&O call, buy Nifty January futures with a target of 5400-5425 and stop loss of 5200, says Nitesh Chand, technical analyst, on CNBC Awaaz. 

1:45 PM - In an F&O call, buy Nifty January futures with a target of 5400 and stop loss of 5220, says Somil Mehta, technical analyst, on CNBC Awaaz.  

1:41 PM - In an F&O call, sell Nifty January futures with a target of 5200 and stop loss of 5300, says Parsh Zaveri, technical analyst, on CNBC Awaaz.  

1:35 PM - In an F&O call, buy Nifty January futures with a target of 5300 and stop loss of 5230, says Hormuz Maloo, technical analyst, on CNBC Awaaz.  

Market Outlook 15 Jan

Hi .

As expected market opened gap up . Retraced a bit but again closed firm  but could not cross the resistance. Everything seems to +ve apart from not crossing the resistance. The inflation figures are quite high but market digest it pretty well;

In the earlier part of the day there was some profit booking in the IT companies so the IT index was down but later it covered and closed in the green. So the people holding it as per my last post is still enjoying the whooping gains. Today banks was in pressure . Bank Index closed in a bit of red.

If we get good global cues we might open in mild green but i expect profit booking tomorrow . So i will suggest all who are sitting in profit please book them.

Please be in the sideline as we can see the nifty can move in either way so be careful.

There are mixed feeling in the experts:-
1:57 PM - In an F&O call, buy Nifty January futures with a target of 5310 and stop loss of 5220, says Hemen Kapadia, technical analyst, on CNBC Awaaz.

1:50 PM - In an F&O call, buy Nifty January futures with a target of 5325 and stop loss of 5180, says Neera Jain, technical analyst, on CNBC Awaaz.

1:46 PM - In an F&O call, sell Nifty January futures with a target of 5320 and stop loss of 5210, says JK Doshi, technical analyst, on CNBC Awaaz.

1:41 PM - In an F&O call, buy Nifty January futures with a target of 5350 and stop loss of 5200, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz.

1:36 PM - In an F&O call, buy Nifty January futures with a target of 5350 and stop loss of 5150, says Nishant Jain, technical analyst, on CNBC Awaaz.

Market Outlook for 14 Jan

Hi,

As expected market was weak on 12 th Jan . If you look at my post i mentioned Infosys will be trigger for the IT companies but i dont expect much from the Nifty. Infosys did good but Nifty closed in red . Even the traders who have maintained the short position from the level we intaited it they would have been in profit.

But today we got support a little lower then 5180 the support level and we bounced back and closed in the green. This is good signal and market can so more strength . So go long for tomorrow and cover if any shorts are left.

I mentioned to buy IT sector on infosys if some has went for the same then he could have got 239 points rally actually (400 point rally  but if some has entered the results were declared after reading the articles he could have managed to gain 239 points as there was a huge gap up as expected).

Margin of 1Lakh giving return of 23900 in just two days . I am still bullish and mantain my call on hold for IT index. Let see how much can we from the single run. This provided a huge opputunity and people would have loved the same 24% return in 2 days.

Most of the analyst are now bearish but i will again be a contrarian and will give suggestion for the long:-

1:56 PM - Nifty F&O Call: Sell with target of 5130-5050 and stop loss of 5230, says Manoj Sachdeva, market expert, on CNBC Awaaz.   

1:53 PM - Nifty F&O Call: Sell if Nifty breaks 5170 with target of 5100 and stop loss of 5250, says Parsh Zhaveri of Zhaveri Investments on CNBC Awaaz.  

1:50 PM - Nifty F&O Call: Sell with target of 5150-5100 and stop loss of 5250, says Hitesh Seth of Prabhudas Lilladher on CNBC Awaaz. 

1:47 PM - Nifty F&O Call: Buy with target of 5240-5250 and stop loss of 5150, says Mitesh Thacker, technical analyst, on CNBC Awaaz. 

Market Outlook for 12 Jan

Hi .
The market today opened on strong note with the help of global cues.  But today at the later part we saw some profit booking.

The result season has started. Infosys will declare their results tomorrow. Market will have a keen watch on that . If it comes as expected then dont expect much from the market . But if we get great result then we can see short covering in IT stocks. Today also we saw some buying coming in to the IT stocks. As it was most beaten down sector in last few days.

As i am maintain my view small caps and mid caps will perform in this market. We saw great buying coming up in midcap index . I will suggest to see the Infosys results first then act on the market.

But if market corrects from here then we can see huge amount of pressure in the midcap. So even if your investing in Midcap be sure to go for the scripts which have future potential. So play safe.


The experts are still bullish on the market:-

1:57 PM - In an F&O call, buy Nifty January futures with a target of 5300 and stop loss of 5220, says Rohit Shinde, technical analyst, on CNBC Awaaz.  

1:52 PM - In an F&O call, buy Nifty January futures with a target of 5350 and stop loss of 5170, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. 

1:50 PM - In an F&O call, buy Nifty January futures with a target of 5350 and stop loss of 5170, says Nishant Jain, technical analyst, on CNBC Awaaz.  

1:47 PM - In an F&O call, buy Nifty January futures with a target of 5340 and stop loss of 5235, says JK Doshi, technical analyst, on CNBC Awaaz.  

1:40 PM - In an F&O call, sell Nifty January futures with a target of 5230-5180 and stop loss of 5320, says Manoj Sachdeva, technical analyst, on CNBC Awaaz. 

1:35 PM - In an F&O call, buy Nifty January futures with a target of 5300 and stop loss of 5210, says Hitesh Seth, technical analyst, on CNBC Awaaz.  

Market Outlook for 8th Jan

Hi,

Today as expected we got some profit booking and  correction. Yesterday i went for contra call, so call on going short worked for those traders  went for that. For those traders who think market is still bullish even they would have benefitted buying Nifty at lower level after booking profit at higher levels. As i gave the call to book profit earlier only. Nifty continues to be in narrow range on daily basis. This is because of the reason we are the very crucial juncture. So bears and bulls are applying there powers. Whenever some ones wins and breaks a level we get some big moves.

Most of the market global cues were also -ve . Tomorrow we can expect a choppy session. As per the closing i will say that closing is below the res 5269. That is bad . Tomorrow global cues will be important for determining the direction of the market .Dow and Asian market will determine the direction. So dont be in a hurry to create the position.

This is the time to look for buzzing midcap that can good returns in small period of time. As most of the time broader market is doing good.

We can see good amount of pressure on the IT companies because of dollar weaking and profit booking.

As per market experts they market is still bullish :-
2:00 PM - In an F&O call, buy Nifty January futures with a target of 5290 and stop loss of 5180, says Neera Jain, technical analyst, on CNBC Awaaz.  

1:56 PM - In an F&O call, buy Nifty January futures with a target of 5350 and stop loss of 5170, says Nishant Jain, technical analyst, on CNBC Awaaz. 

1:51 PM - In an F&O call, buy Nifty January futures with a target of 5300 and stop loss of 5225, says Salil Sharma, technical analyst, on CNBC Awaaz. 

1:45 PM - In an F&O call, sell Nifty January futures with a target of 5210-5130 and stop loss of 5305, says Manoj Sachdeva, technical analyst, on CNBC Awaaz.  

1:41 PM - In an F&O call, buy Nifty January futures with a target of 5300 and stop loss of 5225, says Salil Sharma, technical analyst, on CNBC Awaaz. 

Market Outlook for 7th Jan

Hi ..

As expected the market today showed a choppy session with profit booking. Yesterday only i mentioned it is time to book full or partial profit depending upon your risk capability. Market is taking a breather here. So better be light or with no positions.

Today market crossed the resistance level of yesterday 5280 that is good sign but i will maintain my call to remain cautious and carry less position for risky traders. Risky trader can go long after 5310 is broken . Even shorts can be taken with a stoploss of 5310 but this is for all traders who can take this risk . As global cues are also nearly flat so tomorrow we can expect some flat session or choppy session. As there is reversal pattern show on the chart but that is still need to be confirmed by tomorrow session. So better be cautions and look for tomorrows trades.

If anyone has done profit booking on my advice today then he might got the Nifty again at lower level today.


Most of the analyst are bullish like yesterday :-
1:55 PM - In an F&O call, buy Nifty January futures with a target of 5400-5450 and stop loss of 5240, says Nitin Murarka, technical analyst, on CNBC Awaaz. As long as Nifty is above 5200 the uptrend is intact, he feels.

1:51 PM - In an F&O call, buy Nifty January futures with a target of 5400-5425 and stop loss of 5200, says Nitesh Chand, technical analyst, on CNBC Awaaz. 

1:48 PM - In an F&O call, buy Nifty January futures with a target of 5365 and stop loss of 5240, says Parsh Zaveri, technical analyst, on CNBC Awaaz.

1:43 PM - In an F&O call, buy Nifty January futures with a target of 5400-5450 and stop loss of 5250, says Somil Mehta, technical analyst, on CNBC Awaaz.

Market Outlook 6th Jan

Hi ..
As expected market opened with a gap up with good gains.After that market continued to move in the narrow range. The market breadth was very good today.

Today 5280 was the level which market faced resistance right from the morning . It was breached for some time but could not sustain it.
As the market has run up quite a lot i would suggest book full profit or at least partial profit on your longs . We can get some small correction which can be helpful for taking entry again into the market. The overall mood of the market seems bullish but keep in mind don't get carried away with the bullishness.

I am bullish but with CAUTION. Remember the word CAUTION.

Most of the analyst are also bullish:-
2:05 PM - In an F&O call, buy Nifty January futures with a target of 5400 and stop loss of 5150, says Rakesh Bansal, technical analyst, on CNBC Awaaz.

2:01 PM - In an F&O call, buy Nifty January futures with a target of 5380 and stop loss of 5210, says JK Doshi, technical analyst, on CNBC Awaaz.

1:55 PM - In an F&O call, buy Nifty January futures with a target of 5350-5400 and stop loss of 5220, says Husseini Wadharia, technical analyst, on CNBC Awaaz.

1:50 PM - In an F&O call, buy Nifty January futures with a target of 5300 and stop loss of 5160, says Hormuz Maloo, technical analyst, on CNBC Awaaz

1:45 PM - In an F&O call, sell Nifty January futures with a target of 5250 and stop loss of 5310, says Hemen Kapadia, technical analyst, on CNBC Awaaz.

Market Outlook 5th Jan

Hi,

Very Happy New Year to everyone and Happy Trading and Investing.

On Friday the person who have gone shorts might have made some money or lost some money as market has given both oppurtunities for the Trader but the range was narrow.Depending on the point of entry the loss and profit would have resulted.

For the first time on Friday the market closed above 5200 that was the sign of closing the shorts. As intraday basis 5220 and on daily charts 5200 has the significance. This showed that market has power to move up on Monday.

As per the expectation the market was up today And most important it maintained its gain through out the day. This shows the market has potentails to move up.
As the closing is also above 5220 then we can expect that the market will be up tomorrow. So we can go long tomorrow. But if we get a big gap up then we should wait for some time then should enter the market . If  we get small gap up then we can go for the long then only.

Most of the analyst also believe in going long :-
2:00 PM - In an F&O call, buy Nifty January futures with a target of 5265-5325 and stop loss of 5185, says Hitesh Seth, technical analyst, on CNBC Awaaz. 

1:55 PM - In an F&O call, buy Nifty January futures with a target of 5290 and stop loss of 5180, says Neera Jain, technical analyst, on CNBC Awaaz.  

1:50 PM - In an F&O call, buy Nifty January futures with a target of 5400 and stop loss of 5150, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz.

1:44 PM - In an F&O call, buy Nifty January futures with a target of 5400 and stop loss of 5160, says Somil Mehta, technical analyst, on CNBC Awaaz.  

1:42 PM - In an F&O call, buy Nifty January futures with a target of 5350 and stop loss of 5195, says Mitesh Thacker, technical analyst, on CNBC Awaaz.