Much awaited correction, sell off happened by oct end. Sensex fell close to 10% in 10 days or so. Correction was quite heavy in metal, steel, realty and almost very less in IT, Pharma, auto stocks.
I feel, we can go up to 16500 levels and then fall again to test 14500 levels in November. Traders are advised caution while buying in gap-ups and instead buy in gap downs.
I would recommend buying pharma stocks, auto and auto ancillary stocks at every dips.
Update on Nov 27: who would have the much awaited correction in stock prices would come by the way of dubai uncertainities? Anyway, we went upto 17250 and started correcting. Let us see how far it goes....
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