Sensex,Nifty Rally led positive global cues
Indian market continues to gain further grounds as strong buying continued across the board as the Global markets rally.Sensex is trading higher at 8654 up 311 points while Nifty gained 68 points to 2687.Fresh buying is seen in Reliance Industries which is up 3.99 percent to 1249.90 while ONGC gained 2.95 percent.Real estate stock have seen some short covering with DLF gained 8.15 percent to 148.

Short covering and some buying interest is seen in auto, banking, metal and telecom stocks.Asian and European markets are trading higher and following the global cues Indian markets are likely to gain further.There might be some profit booking in late trade but short term trend is up although long term trend remains weak.

Market breadth is positive as 1393 stocks are advancing while 737 stocks are declining while 89 stocks remain unchanged on BSE.Banking stocks have seen huge short covering and might move further up.Hold on to long position as there might be some more upside left if Nifty closes above 2700.