DIWALI DHAMAKA

I guess bulls want to prove me wrong when I said this might be a month of consolidation.

If Nifty futures decisively crosses 5150 and stays above it, it has a clear 220-230 points path to travel.

Who better to lead this lap than the leader himself - Reliance Industries. On crossing 2240 decisively, RIL can go to 2375 - 2400. Some other targets -

Tata Steel - 612
DLF - 533
Powergrid - 127
ICICI Bank - 4 digits

As I said in my last post, bulls are systematically raising the bar (support levels).

Once they crossed 4790, they created a base at 4850, then 4920, and now 5070. It will need some real bad fundamental news, or some disaster to break such strong levels.

I also mentioned, after the red Diwali of last year, bulls would like to celebrate in style this year.

The platform is ready, the stage is set, and bulls are just waiting for the director to call...lights, camera, action.......once the BIG B of the Indian stock market - RELIANCE INDUSTRIES crosses 2240.

Is this is a dream? Cannot be, since, it is just 9.30 pm and I am wide awake.