Mkt has come down a bit from high of Nifty 90pts to 70pts and in the range bounce now, we had a good run-up yesterday 50-60pts and today 80-90pts hence there is some probablity that one can see profit booking in the 2nd half of the day.
Why do you see market coming down a bit in the 2nd half of the day?
Apart from technical indicators, if you look at the European market, they opened almost flat to -ve and Asian market are in the range of 1-1.5% up. Indian market expected to perform in similar way. Just after the expiry there was run for Aug series of future, but we are sensing that smart money is slowly exiting from the counter after seeing good interest from the retail/DII.
-JK
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