Within any bull market there are periods of correction. We seem to have entered one such phase in the present bull market. Hence in the very near term markets are likely to remain under pressure emanating from profit booking by the FIIs. Sectors like banking, which have run up a lot, are likely to see the maximum correction. Traders may use any upside in banking stocks to go short with an appropriate stop loss. Decline may be used by investors to gradually add stocks of the performing sectors like banking, auto, Pharma, textile etc
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