Last week, the Indian markets added nearly 3 percent but selling in the last couple of sessions pushed Nifty below 15,000. In all, it was a difficult week for momentum traders because the moment market tried to decide its direction, we had some surprises.

Although the market did manage to recover well from the previous Friday’s level, it us with some doubts.

As far as levels are concerned, 15,100 and 15,273 are immediate hurdles, whereas, on the lower side, 14,760 – 14,467 are the key supports.

If we take a glance at the weekly chart, we are still unsure whether the market has enough strength to go beyond recent highs around 15,400 – 15,550 without seeing any decent price or timewise correction.

But at the same time, they are just refusing to fall as well. It would be interesting to see how markets behave in the first half of this week. It should then ideally give us some fair idea of where it is heading in the short-term.

Traders are advised to focus on stock-specific moves and should avoid aggressive leveraged overnight positions.