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Morning Mantra ( --- 9.00 AM )

The markets are catching on mood swings. After moving above the 10000 mark, Nifty was always in a highly overbought zones and started giving sharp reactions on global and then local news. The recent turmoil within the index heavy weight companies is giving the market some more jitters. Hereon, one should just wait and watch the trends for few days. If the supports of 9700, 9660 are broken for Nifty, we may see further slides. However, there is a good chance that Nifty will clinch on the 9700 supports and then start consolidating at the current levels.
Volatility is expected to be very high. Day traders need to be on their toes.

 
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Source : Moneycontrol
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