In today''s trade we finally saw BULLS making a strong come back after yesterday''s weak trade. Buying was visible across the sector with Reality and IT at forefront of the rally. IT stocks surged after the Finance Minister extended tax exemption for the IT sector by a year.

All in all, after passing the acid-test in 5050~5100 levels we have seen markets going in very strong and holiday tomorrow markets are once again likely to go in holiday mood for a time being. Global cue does not seem to be too much encouraging. Due to such sharp run up, Indices taking breather for a day is highly probable and selling pressure on higher side definitely not ruled out. Banking sector could continue to remain volatile and we may see some profit booking. Inflation data on Friday could now be keenly eyed. NIFTY spot seems to have strong support at 5120~5140 levels as now. Traders are advised not to trade without stop loss levels.

For the day we are covering BSE Capital Goods index. This index has closed at 13931.17 levels, UP by 176 points (+1.28%) in previous trading session. At current juncture levels of 14000 seems to be very strong hurdle on higher side. Only close above 14000 levels would be positive for the stock. In this sector L & T trading at Rs.3007/- seems to have gained strength in past couple of trading session. However it needs to close above Rs.3148/- on higher side for any major up move.