Today: Indian stock market could go up due to last days of F&O but it would be just short covering rally until it crosses 9000 mark.

BSE Sensex: (8674) The Sensex would reach 7900 if it breaks 8400 and the resistance to the up move is at 8950-9050

NSE Nifty: (2679) the Nifty would reach is at 2500 and the resistance to the up move is at 2750-2800

Today’s pick: buy cairn India.

Important Data to watch: Global market, Third quarterly results, Reserve Bank of India monetary policy review statement.

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