Once again the level of 5150-5200 provided strong support to Nifty. Strong bounce back from a low of 5135 to a high of 5307 within two trading sessions clearly shows path ahead. Today's trading pattern also confirms a strong bull action. Correction seems over and uptrend is very likely to get resumed. Long positions should be taken for a target of 5500-5600 keeping a stop of 5100. Nifty is now trading at 5317 and it should improve as the day ends, because there is as such very little negative news in the markets.
(ii) STBT (F & O): Sell Aurobindo Pharma_April at Rs.114.5-117, T-Rs.111-107, SL-Rs.119.