A good correction was on cards and I was consistently maintaining a high alert stand at 5350-5400 levels. Hope some of the readers have taken some money off the table.
Ideally the Nifty should consolidate between 5150-5250 levels and make the next move on either side ( My bias is towards the upside ) One can look to re-enter stocks in tranches. However, avoid stocks which are fundamentally not sound.
5150 is the stop loss for all short term traders. Any closing below that and the market will become a sell on rise market for the short term.
Have a great trading day,
Regards,
Rahul T.
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