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Relief Rally or Short Covering ?

It was an exciting day for the domestic stock scene as our markets bounced back strongly from yesterday's correction. After six consecutive days of losses they closed on a high with metal and realty packs leading the gains. Sensex closed at 15912, up 507 points and Nifty at 4710, up 146 points from the previous close. CNX Midcap index was up 3.1% and BSE Smallcap index was up 2.2%.Top Nifty gainers included Unitech, Jaiprakash Associates and DLF while losers included Suzlon Energy, Sun Pharma and Grasim.
But no big signs of FII and DII activity in both exchanges seened.only 234 and 527 cr brought respectively.Traders sold at higher levels i think so.Some traders will starts build short positions around 4750-4780.

STOCKS SHOWING SHORT SIGNALS EVEN AFTER 3% RALLY ARE

SUNPHARMA
CUMMINS

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