Market volatility continues

03/11/07

As expected by me, nifty took support from 5700 level and again was able to cross and close above 5900 mark and the market volatility is still continuing and also looks very bullish even though there are lot of negtaive factors running around like oil price raising in international market, the never ending indian political problems, us economy problems, weekening of dollar etc.Still, the market is zooming and now looking towards 6050 first and if crosses that level then we can see 6300 level very soon.Market is definitely looking like standing on needle point now and if corrections do take place anytime, then sensex might wipe out 2000-3000 points for sure.Now, since all the sebi meeting, fed meeting, p-notes issue are all over, markets might sail again on upper side very smoothly unless anything negative thing happens all of a sudden.But, market volatility wil remiana nd 5700 might become stop loss for all longs now.But, there is still lot of strength in the market as there are lot of buyers coming in at every dip in the market.Reliance pack is taking a major part here.