After two days of sharp upward movement, another sharp decline. Two things to keep in mind. One, on Wednesday, as the Nifty rose, the FIIs were still selling – so it appears there is some selling to come till an adjustment of weightages takes place. Two, make a distinction between what is happening to the Nifty and the broader market. Market breadth is still holding its head above water, and that needs to be watched more than anything else.
