As seen from recent trading it is observed that daily range is reduced, market feels very strong resistance, index based stocks are facing profit booking, FII data shows that shorts are being build up in stocks futures in F&O, all international markets are ready for medium term correction. This shows that though q3 results are good the inflation pressure is being felt and RBI may act for stimulus withdrawal now it self. One correction is due for further rise which may be after 6 months??????. The downward correction may be expected around 1000 points in nifty.
Support as per weekly charts 5160 resistance 5260-5360.
Support as per weekly charts 5160 resistance 5260-5360.
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