BUDGET HOPE ??

Last half an hours selling,,have punctured the smart rally from the morning ,opening lows.Reliance was the biggy today,bouncing strongly in the opening minutes only from my targeted level of 1928 around (made a panic low at 1900),which was shown in the chart posted here...4193 was recovered very soon,,sbi couldnt trade below 1660,r-cap didnt go much below 860( low 854 ?)..and bhel helped the markets along with news based rally in ongc.

NOW ?????????? a big question..i am trying to find the answer.since it has rallied from morning lows..amidst bearishness of the world markets,,it could be either Budget HOPE OR EXPIERY ,reasons.whatever may be the reason of the pullback,,unless nifty trades above 4355-4375..as shown in the chart and unless sensex trades above 14625-14650..all the rallies upto these levels should be taken as corrective in the natureAND should be shorted.

for larsen,as one can see in the chart..it has to cross major hurdle at 1550..otherwise the picture is gloomy for the short term.