==>> Correction may be on the way......

Its been again a volatile session in the Indian markets. Indices opened up strong but slided in the -ve zone in the mid session. Sensex rallied in the early trading hours and for the first time touched 15000 mark after September 2008. But closed down at 14870, almost flat. Nifty closed at 4534 after making a high of 4574.90. Nifty made an intra day low of 4478.60.

Before the markets opened SGX Nifty was trading at a premium of around 55 points, but lost all its gain in the mid session. Indices after opening up strong, slided to the negative zone.

Profit have been seen frontline stocks. Mid shares have been corrected in the last 2 days. Selected counters are doing very well in the market. Candle stick pattern made in the last two days are "DOJI" pattern, and that too are made on the recent top, that may suggest that the markets temporarily will take a halt, but still the pattern comfirmation will be done tommorrow only. In my last blog too, I have mentioned that the Markets will witness some correction, and we may have seen that Major of the Index based stocks have seen correction, even the midcap sharess too have seen profit booking. We would still suggest that, traders should keep their positions light.