The markets three week rally have been broken, with the BSE Index closing down nearly 7.63% or 770 points and the Nifty closing 7.16% down. None of the 30 index stocks made gains last week. I have mentioned on Friday 19th that we may see some correction coz the Nifty is trying hard to close above 3100 levels but not able to. In the last week we saw Sensex and Nifty falling by around 7.5%. See chart (marked by 1) the Nifty has fallen and closed below the 1st trendline. Nifty is taking support at the 2nd trendline (marked by 2). RSI has also been falling. We might see some more correction till 2800.
Short term del call 15 days, BUY SATYAM COMP, keep ur own stop loss cmp 131