Traders :
weekly close below 15480 will herald major correction(5 to 10 percent correction).At this juncture book profit/cut positions in Midcaps and stay with Long caps.Dont take calls from brokers(recos of midcap stocks).Stay in cash.
may bounce back but will show strength only if it regains all time high closing.TIll then bulls and bears will slug it out.Dont go short in Reliance,take position only after results.
Long term Investors
Accumlate fundamentally good stocks,good oppurtunity to buy such stocks.
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