Intraday Range: 16900-17200
Short Term Range: 16700-17400
Intraday Range: 38200-39000
Short Term Range: 37800-39000
Major draggers: All Sectors excluding IT.
A probable dark horse: #SHANTIGEAR
ViX was mad yesterday & it can continue to be mad for a while. Global markets are reacting to USD rise and other Geo Political news. Indian Market is reacting as well but still under very much control. Market has broken & closed below 17200, which would now act as a resistance followed by 17400. On downside, 16800 is a rock solid support below which 16650/16600 looks highly likely. I'd start buying from 16700 levels. Slowly that fear mindset is building amongst investors and that's where one can add Blue Chips to their PF.
Position sizing recommended: Medium
Should we be cautious? : Yes.
Area of averaging PF? : 16700