In a volatile trading session yesterday, Indian markets managed to closed on a positive note.BSE sensex gained about 60 odd points to close at 15,688 levels and nifty closed at 4659 levels after gaining 17 points from its previous close. Currently the Asian markets are trading up with marginal gains. Nikkei-225 is up by 0.64% and Hang Seng is up by 0.27%.

Yesterday US markets closed in green where Dow gained 0.32% and Nasdaq gained 0.31%. So the global cues look positive as of now. But most of the markets are now at 10 months high point and are in a resistance zone and need a impulse to move ahead. Sensex is also nearing its bull market high of 16,002 levels attained few days back.

An important level of 4650 in nifty needs to be held so that we see some upward movement in the markets from now. Yesterday nifty has closed above this point which in itself is a good indicator. If the momentum continues then the next levels to watch on nifty could be 4700 and then 4750. Realty, metal and auto are the favorites of the traders now including the IT pack. Stocks like Wipro, Educomp, Rolta, Oracle Financial Services have moved up in these days.

Here are some intraday calls for today:-

Buy Selan Explo Above 307  Target 316,322 Stop Loss : 300

ShortSell Below 299   Target  292, 286 Stop Loss: 304

Buy Ranbaxy Above 345 Target 354, 358 Stop Loss 338

shortsell below Below 337 Target 332, 330 Stop Loss 342

Buy Rolta Above 188 Target  193, 196 Stop Loss : 182

ShortSell Below 182 Target  176,173   Stop Loss : 186

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