A good bounce back was witnessed in the last 2 trading sessions.Ideally we can go upto 16500-600 on Sensex and 5000-5050 on Nifty. The doors to fresh longs open up only after we close above these levels for 2 days.
Till then one should use this bounce to exit longs and wait on sidelines.
Market sustaining 4900 during the day can be a good sign for intraday longs.
Satyam can give a 10% from these levels within a short period.
Have a great trading day,
Regards,
Rahul T.
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