Good Morning Friends,
What has happen yesterday was not totally unexpected. Nifty was not comfortable above 15900 and hence slipped. It was not just a slip, somewhat it was panic sell off lead by Tata Motors. (TATA MOTORS - If one has investment buy or medium term view then also make exit on any rise. From current levels of 320, I do not see value after what they announced yesterday).
Let us talk about Nifty. Closing is above 15800, so I cannot say that its a big dent but it may be beginning of dent. Take a basic logic - A fall is concerning only and only if it get follow up. Hence, Today is the day to watch. If it close with fall today then we can see concern.
So, make or break day. Either it will take fresh attempt for 15900 or may go to test 15600 again. There are so many swings.
I am not interested for long trade for the day. Be cautious at higher levels.
Happy trading
