Market Review After Closing Bell 06/05/2008

I think right now there are no fresh buying and therefore the Nifty is straggling so far. I think it needs a bit of extra efforts to push it now to 5,400 level , I suspect from the global markets if the rally in the Dow persists or if it does not happen then the market might just resisted a bit and remain range bond around these levels for a while.I think we will watch global markets quite closely but in the near-term at least for the next couple of days it looks like we will be stuck in a 100 point zone for the Nifty not breakdown too much there is no need to neither go up significantly above 5,250 levels. So essentially this week probably 5,100-5,250 range looks possible.