Markets closed mixed today as we went in quite oversold conditions intraday and bounced from there to have a some what reversal day. Though not exactly a reversal day but a doji day, nevertheless some sign of selling exhaustion. I think we might consolidate here for a day or two before selling resumes. Sector wise retailers were higher while finaicials/oil were lower. I had mentioned yesterday that internals are not weakening with markets and we may see some kind of exhaustion today and we might have seen that.
Clearly markets tenor has changed and all rallies should be treated with suspicion and we should look for selling/shorting opportunities on rallies until there is none.
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