Also more such quick observations posted on www.analyseindia.com
Above is just a quick review and not a buy/sell recommendation so please do your own research. We may or may not take any action on above charts.
Currently our view is to stay on to cash and hold a mix of defensive and growth stocks which we like and have lesser downside risk. Technically we dont see many buying opportunities as the trend remains down in broader market apart from a few large cap cos everything is sinking.
As mentioned before we have been a buyer below 4950-4700 as 1st entry and 4300-4500. With the sharp bounce backs we could book profits previously so still holding lot of stocks and less equities