Dallal Street now start saying about 4160 for NSE ,at 4770 levels we are about to 65% corrected in midcap from their high levels.500 points down for nifty will be terrible.One thing is sure, any ralley without midcap support will hit back market. Everyone looking for US and their federal reserve weather is there any cut in interest rates.
IT stocks have to come up,because main problem of their downside was strengthening of rupee.Now its above 40 mark ,so that space can make a ralley from here.Especially IT companies in educational sectors like NIIT,EDUCOMP SOLUTIONS etc..
Traders can take short position and make profit from these levels especially with momemtum stocks like RNRL,ISPATIND,IFCI etc...
Rel may continue its downward trend till RPOWER become stable.
