The lows of  4500 in the month of December we  hit 5400 on 07 Feb 2012 . Roughly a 18% gain. It was a clear indication that the markets will move up when the RBI announced a CRR cut. We were trading around 5050 in Nifty futures when the CRR cut was announced. The 200 DMA was around 5195 on the spot and we comfortably crossed that hurdle and now currently trading around 5400 levels. Around 5200 levels traders were talking about the over-bought situation in the front line stocks and the index. Indices were in no mood for a pause. Today Nikkei hits 3 month highs as the Auto giant Toyota raised the profit outlook and the strengthening of Yen boosted the sentiment. It is few notches away from hitting the 9000 mark.

Today we may trade above 5400 and there is a good chance that we may close above that level if there are no negative surprises from the EU.

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