Nifty

Currently highly oversold - I'm expecting bounces to 5600 - 5650 - Above 5700 market likely to head to 5850. If we do reach here then a strong possibility of market heading to 6000-6100 Alternatively we head to 5650 then down to 5300 then up again..

The current correction took nifty to 50% retreacement (5460) or so.. indicating strength - Weekly is in sell currently so market may face resistance around 5680-70..

We still have an unfilled gap at 5320... We may see sideways movement - till then trade light..

some stocks are showing bearish possibilities while others are highly oversold - usually this indicates sideways movement of both stocks and the index.