The Nifty continues to be in a bullish mode and traders are advised to hold on to their long positions with strict stop loss at 5085 levels. The market can go up to 5235 levels and if this level is conquered conclusively with good volumes, it may go up to 5295 and then 5325. However, profits on longs may be booked partially around 5225 levels. On the downside if 5085 gets broken, nifty might go back to 5002, 4969 and then 4884 levels below which fresh supply will emerge. Investors are advised to watch Coal India Ltd., Sterlite Industries and SAIL as medium term bets and to bid at significantly lower levels then the current rates for portfolio selling seems to continue in these counters.
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