Market displayed signs of classic consolidation, as it failed to sustain at the high point of the day. On expected lines, the higher levels saw some profit taking, as the Nifty pared nearly 50 points from the high point of the day. A spinning top, indicative of indecisiveness of the market participants occurred on candles. There are high probabilities that market continues to witness profit taking bouts from higher levels. It is further advised to continue to utilise volatility and downsides to make select purchases with any downsides or profit taking bouts that the market may offer.

Source: Economic Times April 23, 2018 15:22 UTC