SHORT COVERING RALLY

Looks like the market is in strong hands and the short covering rally over 3401 took the market away from bear's grip. Market strong as long as NF trades over 3384- 3392 for target 3465 and strong resistance at 3499.However, break of 3362-52 will bring the weakness back. Right now, the trend is not clear till we break the range 3500-3300 on closing basis.