“For the second consecutive session, our markets consolidated in a slender range and somehow managed to reclaim the 10300 mark on a closing basis. The stock centric action continues but unlike previous session, we saw some individual counters that were experiencing massive selling pressure and have plunged significantly during the course of the day.
As far Nifty is concerned, we continue to see 10344 – 10368 as a sturdy wall and unless it’s crossed convincingly, the market is likely to see some corrective move in between. On the flipside, 10250 remains to be a key support and a breach of this support would resume a corrective move to test sub-10200 levels. Traders are advised to focus on some midcap pockets that are likely to provide better trading opportunities.”
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