The Index stayed in a one-way rising trajectory and kept marking incremental highs throughout yesterday. So it is not wrong to say that NIFTY has formed a large consolidation area for itself between 14220-14650 levels.
We recommend avoiding short Nifty or strong shares, especially blue chips; also avoid taking new long positions, because Nifty is still at its highest peak. But if have already any position, it should be taken on a highly selective note. Secure your profits by booking it regularly. The continued cautious outlook is advised for the day.