Nifty for this week has closed well in green with good volumes. A point to note is that on weekly basis it has closed above certain strong averages. Generally it has been seen in the past also that closing above these averages has initiated a fresh rally. But this time the parameters are little different. We could be now heading for a new high if we close above this level for 2-3 weeks. Close below 4730 next week, we would be again heading for 4500 and lower.With the volumes being extremely good and market breath being good too, we now need to consider certain stocks for short term with strict stop loss for 20-25% gain. But not to forget as of now this could be a relief rally upto 5050 and 5400.
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