Nifty (5154) Supp 5020 Res 5250

One positive factor is that FII selling has ebbed considerably over the past few days. This needs to turnaround into sustained FII buying for the market to gradually start inching towards their previous peaks. Obviously, this will take some doing and could take a significant amount of time as the negatives still outweigh the positives (if there are any other than sustainable growth story). After the recent correction, valuations have turned quite cheaper, but one must be careful before picking any stocks.