Till the time the markets did not open in the market, traders felt very happy that they took overnight position yesterday. But here in this blog, i clearly mentioned that they, its just a short covering in the markets. The pull back is due to the good support of 3850. Pull back of around 700 points in sensex was not jusitfied, so it was clearly mentioned that the best policy is to sit back and watch the markets, investors will definately get a second chance to invest. Real Estate and banking saw great short covering yesterday, but they again reversed back to the previous levels.
Sensex previous close was 13664. Sensex few minutes after opening slipped in the negative zone. So the traders realised that it was 700 points down. Sensex made low of 12934 before closing above 13000 levels. Sensex can test the levels od 12300 levels and Nifty close below 3850 can test 3510 levels in the extreme case.
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