Recent outperforming high beta counters witnessed a sharp profit booking that dampened the broader markets and the rub-off effect on markets
While the 17,600 acted as strong support for the Nifty on the higher side 17,900-17,950 continued to act as a sturdy wall.
While there may be listing gains but at some point, there will be a massive correction so investors should be extremely cautious, says Bandyopahyay
Investors are waiting on the side-lines in anticipation of a correction. When everyone fears correction, markets rarely go that way.
UBS has retained its 12-month Nifty target at 15,500 which actually implies a downside from the current level of around 15,800