Nifty spent some time to break resistance level of 3050 -3150 finally making important breakout crossing 3150 on 2nd April,2009 ,this is some thing giving us confirmation of the resumption of up trend, of course now 3050-3150 range must act as support for nifty to continue northwords.

In eyes of technical analysts we are clearly into buy on dips zone with caviat of support being maintained, in a way we have changed from going no where to finding a direction.

It is hard and premature to say uptrend has started for medium and long term, Events in coming weeks and market price action will really decide the fate and continuation of up trend.

Slectively I m taking some bullish positions in small bits adding on successive dips......time frame for exit is currently in view is 8-12weeks. Proift target can be reasonably be fixed around 15-20% keeping current momentum in mind. The moment i achieve 70% of the target my exit plan starts getting implemented.

More another time

Happy stock Investing

SAM

Disclaimer: The above said are my personal views and not an Investment advice,One must consult investment advisor before making an invetsment in stockmarket