NIfty is still showing technical weakness. Close was at the 50% of the bar which is showing that we are hitting the supply zone and demand is there but not enought to push the price at top of the bar. We are at the resistane level and this is a expected behavior at this level. The longer we see weak closing the better chances we will have that this market can pullback further.
Market breadth went up little bit today but not significant enough to push the market up.
Big cap stocks had a good day today. I see banks being strong here and TATASTEEL & M&M seems to be read to play at this price range.
Basically Market direction is not still clear. I would be conservative with my trading as market can go in any direction from here and it may be faster move.....
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