NIFTY - How big will the correction be?

Firstly, in my opinion the Nifty may not crash like the way we saw in March because on the monthly frame I see an inverse Head and Shoulder pattern which is a continuation pattern of the trend.

So basically I don't see a nose dive ,rather a side ways consolidation for a few days/weeks.

Now talking about supports the initial cushion should be around 13265, 13195 and 13026.

If all of them break then we are into a bearish zone and may see further fall.

- Hold on to quality fundamentally good stocks.
- Panic early in the low quality stocks which were taken purely on technical basis as their patterns no longer hold good.
- Sit on cash and wait for your entry in quality stocks with good patterns.

Kommentar:

Took support and reversed as anticipated. It could move sideways for a few days.