As indicated last week, we have a near term top at ~41700/~12250 from which the markets will only meander sideways/downwards.
The pace of the meandering/downward slide will vary. With domestic cues, including the last quarter's earnings, budget, and RBI policy behind us - the focus will be on global cues including the Corona Virus.
Continue to stick to stock-specific longs and index shorts. As I have always advised, please keep short positions on the NIFTY as per your risk appetite and MTM capacity.
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