As explained in last blog all pullbacks are being used to exit longs by smart money.
All said and done political situation in India is not helping anyway.
American markets seem to be stabilised at around 13100 due to steroid injected in system by fed and govt.
But how long will it last?
American economy is most likely to go towards recession which is not great news for world.
India markets may see sell off in near term kissing target of nifty 3900-3700.
However with more negative news coming in next month even 3550 is not ruled out.
This market remains sell on rise market till it closes above 4395 for short term.
It will be prudent to book profit even in cash market and keep cash in hand for panics to come in coming weeks.
