Market may trade sideways between 11,400 and 11,700 levels, buy on dips

Traders are advised to keep a tab of all the above mentioned levels and should focus on individual stocks that are likely to provide better trading opportunities

The market took a giant leap after Finance Minister Nirmala Sitharaman’s slashed corporate taxes. All of a sudden, the tide turned upwards and before anyone could realise, the Nifty was well above 11,200 levels. Since it was predominantly a short squeezing move, the market was not done with such a sharp one day spurt. We had a good bump up on September 23 to kick-start the week on a strong note.

Participants were so ecstatic; the Nifty went on to almost kiss the 11,700 mark in the initial euphoric move. However, this seemed to be an overreaction and hence, throughout the remaining part of the week, market consolidated in a slender range to eventually conclude a tad above 11,500 levels.

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