Nifty closed on friday at 5826
Sensex closed on friday at 19420

 Technically the market has come out of a trading range and so you may see some up move in the days to come. Also now heading into an F&O expiry week and so an up move with volatility is not ruled out. From a trading point of view I buy as long as 5500 holds’

The market unfolded as expected and has closed positive in the green. Technically the market has had a good run and is ripe for a pause or a reaction. Technically the market is also against a stiff resistance of 5879 and so I would be a bit cautious here though there is no sign of weakness as yet. Technically the if the market stays above 5879 then the next logical target is 5956.

From a trading point of view I would prefer to book profits or stay long as along as 5775 holds.

Indian market continued with upswing for the second week aided by strong FIIs inflow. Sensex and Nifty ruled above 19,400 and 5,800 mark respectively on buying spree seen in index pivotal. Nevertheless, the fundamental worries relating to inflation and interest rates still continue. Sectorally, BSE Realty, Consumer durable, Auto and Metal led the rally.

The 30 share index, Sensex ascended 604.75 points, or 3.21% to 19,420.39 in the week ended April 01. On the other hand, the broad based NSE Nifty surged 171.8 points, or 3.04% to 5,826.05 in the same period.

Mid-cap index gained by 261.38 points, or 3.89% to 6,982.94 in the week. Small-cap index too climbed 356.56 points, or 4.46% to 8,358.19 during the week.

All sectoral indices embraced the week with sharp gains. Key gainers were BSE Realty (7.15%), Consumer durable (5.97%), Auto (5.74%), Power (3.30%), Metal (3.18%), Teck (3.09%), FMCG (2.92%), IT (2.72%), Capital goods (2.51%), PSU (2.5%), Bankex (2.04%), Oil & gas (2.01%) and Healthcare (1.58%).

 The markets took a pause after an interrupted run in the last eight trading sessions. The S&P CNX Nifty closed at 5826.05, down -7.7 points or -0.13 %.

The Nifty futures closed and settled finally at 5865, up by 6.30 points or 0.11 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5885 else below 5770 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 5885 & above this level the next resistance is seen near the 5925 mark.

SUPPORT: It has first support close to the level of 5770 & below this level the next support is seen near 5660 mark.

In now a dys the cricketing fever is growing up and the traders not taking interest in trading but in this week nifty and sensex market have made their own height, so basically with the growing global popularity of cricket, traders interest in cricket-related products from SMEs (small and medium enterprises) has more than doubled in the past year, a study said.

Online searches from buyers all over the world for cricket-related products jumped by 130 per cent between February, 2010, and January 2011.

Indian suppliers received 49.60 per cent of enquiries from cricketing countries like the United Kingdom, Australia, South Africa, West Indies, New Zealand and Pakistan.

Around 12 per cent of the global enquiries came from prospective buyers in countries such as the USA, China and Singapore, all traditionally non-cricket playing nations, the report said.

"The data that we have is extremely interesting and presents an attractive business opportunity for Indian SMEs engaged in production of cricketing gear. SMEs can now explore markets such as the USA and China where the International Cricket Council (ICC) has been actively promoting cricket." According to the search data.

According to the search data, countries such as the United Kingdom, China, Pakistan and United States are the major competitors for Indian sellers of cricketing products.

"Searches from global buyers for cricket products manufactured by Indian SMEs has increased significantly during major international cricket tournaments," According to the search data.

Global buyer searches for cricket products from India grew by 46.1 per cent in August, 2010, a month before Indian franchises participated in the T20 Champions League.

Similarly, searches in January, 2011, saw 34 per cent growth prior to the start of the ICC Cricket World Cup , which began earlier last month.

Cricket products that buyers are looking for include cricket bats and balls, which account for a significant percentage of the buyer searches, followed by cricket bat stickers, jerseys and other cricket wear.