The American Markets were closed for national holiday.The Asian Indices are trading at high levels.We can expect a positive opening for our markets in the morning session.The markets will then try to breach the next upside resistance at 6050 levels.But,it will face some selling pressure at 6050 levels and cool off slightly towards the close.Hence,we expect another positive close for our markets today. We can see that the markets have closed at 5985 levels yesterday. We can also observe that the markets had been consolidating around 5700 levels for the past few trading sessions. The markets have now bounced very strongly from this support at 5700 levels. We can also notice that the markets are making higher tops and higher bottoms since the past one month, which indicates that there is some more upside for our markets in the short term. Hence, we expect our markets to move towards 6050 levels in the short term.

The BSE IT Index closed at 4581 levels yesterday, which is (6.04%), above its previous close. We can also notice that this index has got a strong support at 4200 levels, which looks unlikely to be tested in the short term. Hence, we expect this index to move slightly higher to 4800 levels in the short term. We recommend a buy in I-Flex and Wipro in this sector.