Nifty has more or less attained most probable targets at 8600, but is still showing some strength as sentiments continue to remain bullish and people still don't forsee a trend reversal. This may result in a time correction if levels of 8400 are held. If broken, we may see the begining of A-B-C correction with Nifty touching the lower level of 7700.
The TTO trend oscillators of long, medium and short term continue to be above zero, which rules out any serious correction.
The RBI policy tomorrow will define the market direction from hereon till budget expectations set in. FII activities are likely to be lacklusture during December and we may see a rangebound market during the month.
