Strong support around 10,125 levels on Nifty

The market corrected through the past week. In fact, it has seen net losses through the November settlement. After hitting a high of 10,490 on November 6, the market has reacted to a recent low of 10,216 on November 13.

There were multiple negative data points but one way of looking at this would be to assume that traders wanted an excuse to book profits. A weak Index of Industrial Production for September, and rising retail inflation for October might have been triggers. Higher global crude oil prices may also have started to bite. Global trends have also weakened somewhat. But,