Traders should continue to trade momentum until its previous days swing low is not breached consecutively. Major Key level for the index now rests around 15474 while on the flipside 14909 has developed as an elevated support zone & a prudent stop for trading momentum.

Dear Trader… As expected after a gap up opening at record high Indian benchmark equity indices witnessed profit booking on higher levels as heavyweight stocks such as Axis Bank, ICICI bank witnessed sharp profit booking. Markets were trading highly volatile during the day, as traders got anxious with Fitch’s statement