Rally may not continue for long..

Our Markets are moving up for the last two days backed by the positive global cues and due to the short covering of the huge short position ahead of the F & O settlement.

I don’t expect this last rally to continue for more then next two –three trading session, If Nifty holds 2730 on Monday, then we can see another 100 points rally and will face strong resistance at 2820 levels.

As there is no much changes in the macro levels either global or domestic wise. The further weakening of rupee and FII outflow will be a major concern in the coming days.

As long as Nifty holds 2500 levels nothing to worry, If Nifty dose not respect this levels then it can come down to 2200-1850 levels and at these levels investors can start picking up quality stocks and hold it for the next three years to get a return of 200-300%.