Intraday Range: 17150-17450
Short Term Range: 16900-17500
Intraday Range: 39000-39800
Short Term Range: 38800-40000
Major draggers: All Sectors
A probable dark horse: #SUNDARAM
Global markets are red all around. We're slowly entering the demand zone. With Dollar Index and Bond market rising, it was bound to happen. But do have any reason to worry? Nope, we're very well placed in world Market and have no reason to worry. Rises and Falls are part & parcel of the process and shouldn't bother investors at all. And to a trader, it doesn't matter anyways. Buy the dips but only after knowing the levels, you just can't buy at any random levels. Have been mentioning area of Averaging for past many days of which 17300 came. Now one can add more around 16900 levels and then sit patiently. Focus on Blue Chips.
Position sizing recommended: Small
Should we be cautious? : Yes.
Area of averaging PF? : 17300/16900.