Intermediate trend looks negative; traders to brace for currency volatility

Traders must also remain braced for currency volatility

The market has seen a rebound since the settlement on the back of serious institutional buying. The Punjab National Bank scam and other bank scams that are now floating to the surface seem to have been discounted. The global trading pattern has also been less volatile this week. 

It's still too early to judge if this is a big trend reversal or an intermediate correction. The Nifty is down about 5 per cent from the all-time high of 11,170, recorded in late January. But all three segments of players — domestic institutions, retail investors and foreign portfolio investors—have been net