Markets hit life time high at 18844 & was on course for another peak at 19K, but profit booking on the last day of the week ensured that the same was not achieved. Markets have run up almost 5000 points in 8 weeks and have now approached major resistance areas at 5550-5560. Unless these levels are cleared on the upward side markets could take a breather at current levels. On the lower side levels of 5390-5395 act as important support areas, a close below which could trigger a downward movement. We advice to remain cautious at current levels and avoid fresh buying positions.

US markets were POSITIVE & Asian markets are trading MIXED.
Levels for NIFTY - support at 5405-5382-5360 & resistance at 5450-5472-5495.
Overall bias for markets is Positive but expect volatility due to results season

Stocks with +ve bias: Power stocks (NTPC, Power Grid, Tata Power, Rel Energy, Siemens), Cement stocks (India cement, Grasim, Acc - due to better results expecatations)

Stocks for Short-term delivery: Jindal Stainless, Fin services stocks (india bulls, motilal, india info) likely to do well as most of the cos doing well due to record volumes on the exchanges.

Stocks for Investment: Grasim, BL Kashyap, Shiv vani Oil & Glenmark Pharma.