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The Fed Chairman reaffirmed the need for continuing with the rate hikes to get inflation under control. Powell said that the economy needs tight policy for some time before inflation is under control.

"Till now FIIs had been positive in cash markets, but this may change with any negative news flow from global markets. In my view, both the bank & IT sectors may face the heat this week, but FMCG & pharma may be a support. In the overall series, we are cautious about overall markets keeping broader geo-political risk in mind."

"I think still maybe next quarter there could be some level of downgrade coming in the market, but that should be small. It cannot be as high as it was in Q1 but because broadly the negative news flow was mainly around inflation, geopolitics and interest rates. The data is telling us that the negative news flow is broadly there, I do not think there is anything new unless and until we see some new Black Swan event coming off from somewhere."

Nifty is taking a breather after a phenomenal surge and currently hovering in a narrow range of 17,300-17,800. It would be critical to see how our markets react to the US fall on Monday, said Ajit Mishra, VP - Research, Religare Broking."We reiterate our view of focusing more on risk management during this corrective phase and suggest continuing with a stock-specific trading approach until the Nifty resumes the trend," he added.

Initially, earmark only 10% of your investible capital to begin trading in F&O. Why? Because F&O is a leveraging game. You may end up with the temptation of higher returns and taking higher exposure which may not suit your risk appetite.

“The so-called priced-on vision or priced-on transformation kind of stories have to be avoided by the retail investors. Maybe the smarter money will get in and extract their pound of flesh but this is more like the meme stock mania that we are seeing on the US markets with bankrupt companies getting bid up, says Ajay Bagga.”

FLFL has in-house retail chains Central and Brand Factory, exclusive brand outlets (EBOs) and other multi-brand outlets (nearly a dozen apparel labels, including Lee Copper, Champion, aLL, Indigo Nation, Giovani, John Miller, Scullers, Converse and Urbana) in its portfolio.

The formation of such a candle with a long lower shadow near a pattern resistance increases the possibility of the up move getting stalled for some more time and the markets staying under consolidation a bit longer.

“For Reliance, I would believe that the stock has this tendency of going into a time-wise, price-wise correction - Consolidation with no major upswings.”

“We had a spectacular run in the auto space and there is a lot of steam still left the way we look at the numbers coming, the monthly numbers as well as the quarterly numbers of most of the auto companies were quite strong.”