On Wednesday the market opened higher but failed to trade above the crucial level of 5260 and closed just around
the previous closings. It seems that the market may enter into sideways correction for next one or two days, if it remains
below the level of 5260. The strategy should be to sell-short around 5260 with a minimal stop-loss of 35 points
above the same. Or trade short, if indices sustains below the level of 5210/17400 in the second half of the trading session
with a stop at 5240 for the target of 5180 and 5155. Any likely closing above 5290 level may lift the market to
5400 in the near-term. Broader view is still bullish and positional traders should be buyer at each major support level.
Stock specific activity is not ruled out for the day.
