Watch Nifty
Ø Nifty almost reached its target of 6300 and as if on cue, reacted from there. The reaction was significant, intra-day. Unless there is a conclusive move up in tomorrow's session, we should assume reaction has set in and well on its way to take Nifty down by atleast 3-4%. Bank Nifty's reaction could be to an extent of 750-1000 points ( from the high created) .On the contrary, if there is a move up in tomorrow's session, it would be advisable to lighten positions.
Ø Nifty's support for 15/10 is likely around 6100.
Ø Many scrips moved up and gave up gains as Nifty reacted. Profit booking atleast partially would have helped short term investors. However, long term investors should definitely look for reactions to re-enter fundamentally strong scrips.
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