Fall before the rise..aug 08, 2008

There is not much change in view since last post. Market still looks good for around 4800. But before that what we are witnessing is a small pullback rally. I have marked the 0.382 retracement on charts. As long as this is held use these dips to build positional longs and would recommend short on rise for intraday today till around 4440 levels.

Adlabs (CMP 550) as posted previously has given a nice breakout now and is looking at 580 to 600 levels in this rally.