Sensex Technical View :
Sensex has given the first indication of weakness with a dip today and a quick dip might be an indication of possible weakness to come but in this market its better not to make a quick conclusion after a day or two.
Major trend change level is below 14750 on closing basis. 2-4 sessions closing below 15450 would give indication of momentum being reduced.
Continue to be stock specifc and above all dont be leveraged or on margin. With many trading stops being triggered today the amount of cash in portfolio should increase and if not then look to reduce exposures by booking profits or small losses in new trades.
Stocks to watchout for :
Maha Seamless almost did 285 tgt with high of 284.Sterlite stopped out. Reliance did 2120 then stopped. Shriram gave intra day move to 355. Voltas stopped out. Glenmark and Ganesh hold but do your own research as investment picks.
Have reduced lot of exposure in short term trades due to trailing stop hits for advisory clients.
No new stocks for short term as i would prefer to wait and watch the next few sessions.
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