Icici Bank, Tata Steel, Maruti have closed above their "Day High Ema" suggesting upward momentum in them. Other stocks are holding their supports. A move past 2185 will propell SBI higher. RIL has closed below its low ema and it must protect 1065-1070 zone for a reversal from here.
Technically the Index is in firm downtrend with Oversold readings in the daily. Its ability to hold the supports mentioned may result in a rally, the quality of which(Volume) will determine whether it will be a reversal or a pause in the days to come..
“Warren decided early in his career it would be impossible for him to make hundreds of right investment decisions, so he decided that he would invest only in the business that he was absolutely sure of, and then bet heavily on them. He owes 90% of his wealth to just ten investments. Sometimes what you don’t do is just as important as what you do.”