Indian markets for today also njoied the Roller coaster ride. Indices opened week. Sensex for a point was trading 270 points down, but in the mid session pull backed smartly to close up 138 points. Nifty closed 42 points up. Nifty closed at 4570 after making a low of 4453 ( as mentioned earlier the 4450 is a very good support). Sensex for the first time after Sep 2008 closed above 15000 level. Sensex made an intra day low of 14599, but recovered smartly and closed at 15008.68.
Yesteday I have mentioned that, the candle stick patter in the chart of the Nifty suggest some correction is pending, and will get the confirmation not before today trading session. Indian markets opened week, but surged again in the late hours. Indices were trading flat in the mid session, but surged in the closing session. This does not mean that, we may not see any correction. Traders are still adivced to keep their position light. We may have seen that the frontline stocks saw serious correction in the early trades, operators offloaded their major holdings in the midcaps too.
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