On Wednesday the market had tested 5 days average, it failed to cross and close above it. It proved to be a technical pull back. Todays movement was a clear indication that short term trend still remains unclear. Those who would have gone long on wednesday, their stop loss got triggered.
It would not be advisable for any one to take positions until market closes above 4200 as of now. Down side is still possible upto 4770 and 4730.
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