markets and best stocks

The Markets has runned uninterruptedly to higher levels. So, a massive correction at this stage frm the top is treated as gud sign to consolidate and move further.
The indices have closed in the lower end of the intraday range as the bears persisted in selling till the end of the session. The intraday range specified for the Nifty at 4875 / 4735 was has held as the benchmark bounced of the 4738 levels, thereby validating our wavecount.
The coming session is likely to witness a range of 4805 on advances, above which the 4885 maybe possible if the short covering gains momentum. Support maybe seen at the 4680 levels on declines. The bullish pivot for the session is likely at the 4795 levels and the bearish pivot at the 4770 levels. Traders need to watch the these parameters for signs of breakout / breakdown from the previous sessions range.
The market internals indicate a higher turnover due to the selling pressure and expiry rollovers. The number of trades were lower and the average ticket size per trade was higher, indicating a selling bias. The capitalisation of the market was lower in line with a downtick session. The f&o cues show the bears ramoing up shorts on declines.
The outlook for the markets is that of cautious optimism as the bulls need to hold the Nifty above the 4800 mark.
The RSI factor is indicating that the market is oversold and may bump-up for few sessions.

Hold all your buys with nifty sl at 4610

Best buys for this week is from current levels
1. ICICI Bank
2. Jai prakash associates
3. Gillete