||Last week the NIFTY closed at 9710.80 registering a loss of 3.53% over previous week. Almost all the stocks took a beating on account of this fall. The cause of the decline is more of the weak global markets and FII selling at the peak. We are now likely to see a meaningful correction coming in which was due for a long time. The midcaps which have rallied well will see a cooling off happening. In these correcting market, the general euphoric buying stops and only stock specific movements are seen. We too should remain stock specific now and bank on stable and performing counters. These corrections are very good for the markets in the long term as they would help in increasing the market width. It would be a good time to buy some winning stocks post the correction. This week we should observe caution and at the same time keep our eyes on some good trend changing opportunities. The correction is likely to continue so let’s keep a low profile. Our long term bull rally is well intact and these corrections are very good for the overall market health. So nothing really to panic and worry. All the best!