UNSUSTAINABLE RALLY..

Gap up opening could not be sustained as the buyers are still nervous. Yesterday, FII's turned net buyers in equity after more than a month. Normally after capitulation, market needs to find a bottom which could be either retest of lows or around 3167-3064. Today looks like a soft day with support around NF 3450-3388; resistance for upmove is NF 3558. Avoid buying for today.