The market activity was sideways on Monday. It opened higher, but failed to trade above 5140 and has completed
very short-term target of 5110/17070 which was unlikely to sustain. However, with the help of the same, today the
market may again bounce back to an immediate highest level 5147/17187 or may be the next extreme level 5165/
17290.
For the day, in case the market sustains above the level 5140 in the second half of the trading session, then we may
expect the market to reach 5165 and 5190 towards the end. If it fails to hold above 5110 in the second half, then we
may expect quick sell off to 5050/40 levels.
Our advice will remain the same to be cautious while adding long positions at higher levels as maximum stocks are
reaching to extreme level of the current rally
