Nifty moves in broad consolidation now.
Points to be noted for today's trade;
Daily RSI stretched to above 70
India VIX over 24
PCR not showing favourable
Global clues not good
Metals stocks can drag the market more downwards.
The levels of 14470 and 14535 will act as resistance points
The supports come in at 14380 and 14300 levels
We recommend finding fresh short opportunities with strict stop-losses in place as the markets are showing distinct signs of broad-ranged consolidation.
A highly cautious view is advised for the day.