BRIEF MARKET FORECAST FOR THE DAY
The Markets are likely to open on a modestly positive note and might continue to see range bound trade. However, on a broader term, apart from minor pullbacks that might be seen the overall Markets would continue to remain in correction mode. The volatility would continue to remain ingrained in the Markets.
Given this, we continue with our advice to remain moderate on overall exposure. Select purchases may be made on every declines while shorts should be avoided. This would be a truncated week with tomorrow again being a Trading Holiday which can lead to some weakness towards the end of the session if no short covering is seen. Overall, very moderate exposure with cautious approach is advised for today.