Following line was clearly told before the opening of today market in Pre-open Outlook today:-
Profit booking develops in today like sentiments therefore cautious approach is required.
Profit booking developed immediately after opening and Indian markets tumbled from higher levels,lost more than 1% gains and traded .30% down also. Good intra day selling at higher levels and minor intraday support also seen at lower level between 4968-4978.
It is premature to say at this moment that 3 days belore started pull back rally is over,sentiment was overheated therefore profit booking was expected today and seen also. Let follow up selling/buying deveop tomorrow then fate of on going rally will be decided and sustaining beyond today trading range(4964-5045) will be next moves confirmation.
Profit booking develops in today like sentiments therefore cautious approach is required.
Profit booking developed immediately after opening and Indian markets tumbled from higher levels,lost more than 1% gains and traded .30% down also. Good intra day selling at higher levels and minor intraday support also seen at lower level between 4968-4978.
It is premature to say at this moment that 3 days belore started pull back rally is over,sentiment was overheated therefore profit booking was expected today and seen also. Let follow up selling/buying deveop tomorrow then fate of on going rally will be decided and sustaining beyond today trading range(4964-5045) will be next moves confirmation.