The Janet-factor has reinforced liquidity back to the market once again as seen from strong buying by FII in the past couple of days. The Nifty is temporarily facing resistance at ~ 7760 (25,500 for BSE) and can be facing exhaustion at higher levels. Strong buying from FII is getting neutralized by heavy selling from DII's (looks mainly from LIC to invest in/bailout cash-strapped PSB's). The short term trend based on 50-day EMA is placed

firmly up, but the Nifty can move do wn to take support at 7,600 (100-day EMA) before it scales up to 7800. At the moment, the up-trend is in place as long as the Nifty trades above 7,500 (25,000 for BSE). It is a "buy on

dip" type of market now and the leadership has once again shifted to FII who are fuelling the market funded by cheap money from abroad. RBI policy move on April 5 & Q4FY16 results are likely to be the focus area for the market in April 2016.

G R CHARI