16-11-09 trading shows that markets opened up and traded in a narrow range and nifty closed at nifty 5058+58 points.  

• FII data shows that  bought in cash but sold in stocks & index futures.
• F&O data nifty future  o i added a small range.
• US markets were closed at new high.
• Global cues are flat.
• SGX nifty is flat to green.

Over all view: as seen from very little addition in nifty future open index and more selling ( profit booking ) by fii in F&O the nifty may face resistance here itself and corrects first for 100 points. If there is any further selling by FII in F&O then we can understand for further down side expectations. As of now don't short positional but book profits in longs. Expectation is that to the end of this week markets will complete correction as F&O role over to next month series and may start journey to up side in the next week.