Todays's bounceback was expected as market was oversold with many technical indicators suggesting it. Although todays sharp rally was on the back of huge short covering and fresh long build up. It is very risky anyways for the short term.

If things go well market may not show much weakness but sharp rallies are followed by profit booking as well.

For Tuesday 14th October upper targets for Nifty are placed at 3530/3620/3690 while lower support levels are placed at 3390-3315.

One must book profit in the long positions in the range of 3620-3750.

Avoid leveraged positions and over trading. For this whole year market is showing Yo-Yo movement which poses great risks and makes life hell for traders and investorts alike.

Wait for more clarity and stay cautioous. Its important to protect your capital than losing it trying to make money as most of the people did this year.