My strong advice would be to stay away from creating any Long positions in Indian markets. Unless of course, you have done your home work well and spot any GREAT opportunity in any specific stock as of now.

On the fundamental side, it's results season and the results would impact the stock markets. I am not saying that results will be bad, but generally, market builds in the good news in few sessions and when the good news actually comes or becomess available to everyone, usually a Top is made. We might see it happening today, as I write this.

Technically, NIFTY is in very weak position and we may see start of a down trend here. I would just reproduce .......

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