WAITING ON THE SIDELINES!

BRUISED ...NOT DEAD!

The correction in the month of October which brought the market down by 2000 odd points in a matter of 8-9 trading sessions has something similar with this fall. It was in the last week of expiry. The option writers caught on the wrong side of the market get in a frenzy and there is chaos all over.

We turned in October from a very important support. This time we broke that support which was placed at 16600.Nothing  looks pleasant as of now. We are definitely in a short term downtrend.

Let the RBI decide the next move. Till then wait and watch.

Regards,

Rahul T.