As expected and said yesterday an intraday correction seen on nifty. though sensex was stable with the help of cement sector. A further fall on nifty upto 4325 is possible tough not necessary.
Also as said yesterday Mid cap index made a high of 6075 exactly as said and then corrected. Some consolidation will be seen in this before a fresh rally, also possibility of a mild correction. One should look at construction stocks like Sobha, Parsnath, IBulls before DLF listing tomorrow. If DLF lists +ve or with good margin then all stocks will rise. Construction stocks gained back and are in action. Further steam is left in this sector.
IT should be avoided till infosys' quarterly results are out. Reliance continues to look weak for the coming weeks. Should avoid longs in this and rather go short in this above 1750 levels.
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