Nifty View: Intraday volatility continues for the benchmark Nifty index. At a close of 16,281, it was a flat 6 points up move for the index today - not much to gain or lose at the end. However, we do notice a fair amount of damage to few small and mid-cap stocks which bring in some degree of uncomfort amongst market participants. Well, this is nothing compared to how they will fall when the benchmark Nifty corrects a meaningful 5-10% or more. But that’s something for the future. In the now, we are still very much in a strong UP trend with the short term support range of (16,150-16,200) holding the index exceptionally well. Stay bullish.
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