The domestic equity market opened with positive sentiments, rejoicing 0.5 per cent saving rate cut by SBI which can be a big booster to its profitability. The Nifty50 is a mirage, strong companies like RIL , HDFC twins are holding it up, but the wider market has already started to weaken.Internal market breath indicates correction will accelerate further going forward. Although the long-term trend is still bullish, the market is ripe for a correction as the internal breath is weakening.Short-term traders can book profits at current levels or trail positions at 9,750.The geopolitical equation is changing rapidly. The market will watch for global clues for decisive moves. The Nifty50 closed the week 0.51 per cent higher at 10,066.

Source: Economic Times August 05, 2017 03:49 UTC