Day trading guide by Kotak Securities

Past data suggests us that the strong bear markets takes 8 to 10 trading sessions before giving any meaningful pull back and today is the 10th day of a vertical sell off. Markets are over sold on all time frames (monthly, weekly and daily) we have to closely track the current sell off for picking up good quality stocks with a medium term view. For the day, keep a watch on major supports like 7515 and 7480. On the higher side 7550 in key the level to bring stability and 7605 for the break out activity may be up to 7720.