Trading Calls and Markets views for 20th January 2009

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Nifty @ 2846
Nifty fut @ 2833

Market Views:

Well we can open negative to flat but we should not close below 2810 nifty spot which is very crutial and its a thin line between Bulls and bears.

Be buyer in nifty if any gap up down do not panic about mkts can open gap down just relax and trade

We are in no tension if we close above 2810 spot if we close below 2810 spot then i will ask to exit all long positions for once

If any gap down i will suggest Reliance ind 1200 call and DLF 200 call to be long

There are lots of shorts in mkts which will cover in today gap down and more on tonight obama's ceremony so there is huge chance of dow to rally and can trigger some upside

though rite now upside is limited to 2940/60 and expiry in next week i m expecting huge short covering in mkts and i wont be suprised if we break my tgt of 2960 and go above 3000 levels

Be buyer at any gap down opening and i will expect a positive close .
Important Event to take in count
1. UK Bailout package details
2. Obama Ceremony and speech

Regards,
Kunal