Morning Mantra ( 17.04.17 --- 9.00 AM )

Markets are under a highly cautious zone. Though the overall momentum remains bullish, at the moment we have entered into over bought segment without any profit booking. The short term trends are now looking for corrections and below 9100 there could be a steep profit booking. With the results around the corner, the market will turn more choppy and volatile. Short term traders should exercise strict stop losses. Long term buyers can keep the funds ready to buy on dips.
Below 9150, there are supports at 9100 for Nifty which if broken can trigger slide to 9000, 8950 or even 8850 levels. 9175, 9200 are all very strong resistances which is unlikely to be crossed in absence of a strong positive news or some revised momentum after corrections.

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