Market correction -How deep can it be?

As I said earlier, if you are a short term trader, then any close below 4980-5000 is not a good sign for short term momentum.It will be a good sign to scale out of your short term positions and observe the next moves. 4900-4920 is the next level to watch.

If you are a slightly longer term or medium term investor, this might present you with an opportunity to accumulate stocks that you might have missed out in the last rally. This is a momentum market and adding momentum stocks on sharp corrections is a strategy that usually works well.

Markets will do everything to throw out the greedy and non disciplined players out of the system.Patience and discipline will see you through.