Nifty guidance and weekly positional calls for 11Jan2009

Hello guys hope you enjoying the calls posted by Namit and myself.

Nifty outlook: Nifty could not sustain 5300 levels and it tumbled down to 5240 levels.. Every dip in nifty is a good buy with a SL of 5199, where if breached can further see a correction of 40-50 points.
My call is that we are in a strong bull phase and every dip should be considered an opportunity to create fresh longs.
This is because, the nature of the current bull rally is such that after giving a fresh breakout, it enters into a consolidation mode. In doing so, a new or higher base is established for the rally to move forward of a strong bull market and hence every dip is a buying opportunity.

One can see nifty touching 5340 in this coming week.

Bullish sector: IT, Banks, Power, Textile and Midcap IT

Weekly positional calls:
- buy Rel cap @904 target 920-930
- buy IBReal Estate @228 target 534-542
- buy Jindal steel and future (sleeping baby.. any moment see a blast of 100 Rs.. My final target 940 in 1-2 months)

Note: Please do your own research, consult your adviser before making investment in the above mentioned stocks.

All the best.. Happy trading!