That was a long wait of seven long months for the investors in the Indian share markets to cross a crucial hurdle of 12,000 levels on the sensex. And the day finally came today when BSE sensex managed to close huge up gaining 6.41% or 732 points at 12,135 levels and NSE Nifty closed 4.93% up or 180 points at 3,654 levels.

Indian markets which opened after 4 days on back of positive global cues managed to breach all resistence around 12,000 levels and succesfully closed above it. The punters are long on D-Street as of now, building a base for a possible crash around the announcement of the Geberal Election results during the mid of the month.

The rally was fueled by the metal,banking, IT and capital good stocks which were the worst hit in the last one year. Accoriding to some estimates sensex is the highest gainer since March lows, gaining as much as 42%. The market’s intermediate trend seems upwards as of now.TheIndian markets have gained as much as 1100 points in the last 2 trading sessions itself crossing the intermediate resistence of 10,960 on sensex and 3352 on nifty.

Sterlite Industries,ICICI,HDFC, M&M were the major gainors which drove the markets today. A sincere advice here would be to keepbooking profits at every rise and not to go very long on nifty as of now.Once the situation at the center becomes clear, and the dust settle down, markets would move up. Till then, its a wait and watch game. My favourite picks would be the banking and IT stocks like ICICI, Axis, Infosys, TCS, HCL Tech etc. The Asian markets also closed huge up today gaining about 5% in some of the indices and currently the US markets are also rocking with gains of about 2% in Dow and 1.6% in Nasdaq. It would be interesting to watch the markets tomorrow!

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