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Market have been trying to attempt a bit of a pullback, in fact in the last seven trading sessions we have managed to close positive for a six of them. It was a near 600 point fall that we saw from pre-demonetisation to now; from levels of 8,500 to 7,900 thereabout. We have managed to retrace nearly 50 percent of that, a 300 point retracement from Friday’s low of 7,900 thereabout and now to levels of above 8,200.
We have managed to cross our 200-day moving average; we are very close to our 20-day moving average of 8,250.