What to say POLISHED RALLY?

Hi,

Yesterday we had great polished rally yesterday. Some of us thought this is BULL RUN started? probably NOT! Have you seen volume and open interest? If this is bull run then where is open interest? Why we don't see open interest in stocks? Hope you got answer. It was pure POLISHED rally and short covering took place. Oh yes DOW helped in that. Nifty rallied by 265 points to close at 4877 level - very close to the levels which bulls want to see the market. But how many belived in the yesterday rally, to me not many if I go by the Volume and Open Interest data.

The market has seen huge surge in the Put Open Interest on a day when market rallied which indicate market is nervous about the current rally.

Well it's my view * you take your own decision before getting trapped in market.

Good Luck!