Questions are again popping up from various pockets as to how much more downside is left in the market...I think the market will correct a little more from here, maybe about another 100 - 150 points on Nifty (till 5850, currently at ~ 6000). There is even a (small) possibility of a fall towards 5700.
Here's a quick look at the Nifty Chart: (notice how the DMI is not supporting the fall much).
Bank Nifty too looks like it might fall some more...and SBI (one of the highest weights in Bank Nifty) also looks set to correct some more...However, these falls (including Nifty's) should last less than a week after which markets should again look up.
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