The markets are giving a strong evidence of a intermediate rally if nifty maintain above 4480. As we were mentioning that 4580 is the level to be watched carefully as markets have corrected very sharply from that point. The outlook still remains cautious as the markets have once again given a breakout on the higher side. Now going forward its necessary that nifty maintains above the 4600 level for some time and consolidates before heading for a of 4880.
BHEL : (2301) Buy with a stop loss of 2248 for a target of 2375