It did not even come below the important level of 5440 levels and we could see massive activity in the mentioned 5500 call February. Traders who bought the call above the mentioned levels could have doubled the money within a day's time.Except Reliance both HDFC and ICICI bank gave decent upmove along with L&T and TATA motors.As i was saying in the previous posts any buying above 5440 should be from an intra day perspective and as it is giving a massive rally like this it is illogical to hold the positions for a longer time frame.The actual target for nifty futures would be 5590 and 5625 but this would be exit points and investors are advised to book 20-30 % profit in their portfolio especially in stocks like SBI.We had a thousand points rally and there would be some more steam left on the upside but take a wise decision to step out and book some profit.Traders will still have plenty of opportunities as it is not a range bound session and movements are so sharp that short sellers are getting stopped out at every move.It will not be a rational decision to go short from the top and we have our immediate support levels lying around 5440 levels.If investors want to stay long this would be the trailing stop and all the fresh buying positions could be sold off intra day for better gains.We could see one of the greatest turnover days ever in the equity market and volatility index was on the negative side. Thus the market could be read as buy on dips as per the current scenario.Lets keep a range of 5440 - 5625
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