NIFTY-ROAD AHEAD-2nd QUARTER

First quarter of 2009 has been an interesting journey for Nifty. It is a good time to lay back analyse and introspect the journey so far and to plan for the next quarter. To me at the end of April fools Day Nifty for the first time this year is placed at a level which is bullish. My opinion is based on the following facts:
Buy Above Level for the month of April 2009- 2922
Buy Above Level the week 30-03 April 2009 - 2974
Buy Above Level for today (2 April 2009) - 3034

Trend is your friend- For the first time this year the trend is firmly up on monthly,weekly and daily basis. So is the so called bear market over and are we seeing a start of a new bull run. The answer is No. The yearly Buy Above Levels is plugged at 4280 and Sell below levels is at 3698. Hence in all probabilities this quarter we may see a retracement to our yearly Sell below level of 3698 provided the above trend is in tact.