Today we had seen fresh buying due to strong quarterly numbers of L&T, M&M and SAIL. Nifty tested a high of 4358 and it is likely to test 4420 and 4500 in the short run. Being the first day of new contract one can expect better opening, minor profit booking in the second half. Avoid large cap IT stocks, preferably small cap stocks also for the time being due to overbought situation.
