NIFTY trading at a P/E of 29.73 which is at the high level and correction expected anytime.  On June 3rd, NIFTY was trading at P/E  29.90 (closed at 12,088.55) which is YTD high and on June 4th it corrected a bit by loosing 66.90 points. So if correction happens, we can expect NIFTY to reach 11,872 – 11,754 – 11,583 – 11,400.

Next week, we expect lot of news for market like IIP data, RBI policy, etc.  Traders are advised to execute trades carefully by following stop loss.