In the blog i have mentioned that the Nifty target in the fall is 3850. It has a good support at 3850. yesterday Nifty made a low of 3848.25 and bounced back to close at 4093.35 after making a high of 4107.15. It was also mentioned that, the long term investor should start investing in the markets for the minimum period of 1 year. Yesterday the pull back was merely short covering and due to good support at the 3850 levels. Intra day traders might have earned a good amount, but the long term investor migth be feeling left aside. Long term investor will again get a chance to invest. Nifty and Sensex bounced back more than 5% yesterday.
Banking & Real estate stocks which had fallen more then 50%, saw a great short covering. Still the news in the Indian markets are bad, there is no good news in the markets to pull back so fast. Still i would say " WAIT AND WATCH".....
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