It has been a good day for the market, yes the Nifty is a bit volatile above that 4,800 mark but midcaps and smallcaps have had it very good today. So the breadth has been the best part of today’s story. Last few days we have had small pullbacks in the Nifty but we have not ever had it with good breadth but today lots of the beaten down midcap sectors and smallcaps too have participated which is a good thing. Volumes are okay, marginally higher than day before pretty much in sync with yesterday even the largecaps had managed to hold their head. More than 16,000 on the Sensex and above 4,800 on the Nifty. So it has been a good come back for global markets just not India today.

Some of your over reactions have got corrected L&T has bounced back, Kotak Mahindra has bounced back and stabilized today. So yes, there has been selling in pockets autos have not had a good day, stocks like Satyam etc in technology haven’t had it very good but generally the market has been good power, ONGC, some real estate DLF, Unitech all those stocks have done well, no complaints with what we have seen on the screen but the rally or the pull back only started yesterday. So may be it is too soon for it to expect it to fizzle out, I think the test will come later in the week if the Nifty gets passed 4,900 and goes to those 5,000 kind of levels, those are the levels where conviction will be tested but little bit was due and that’s happened today.