Reflex Bounce

• After 3 days of selling market experienced a reflex bounce.
• However it had a full round turn going, up, down, up, before finally ending in positive territory.
• The Energy sector was best performer. This sector in last two month had a correction and is now trying to bounce back.
• But if the energy and commodities stock start bouncing back, it will be interesting to watch, what happens to rest of the market.
• Next 10 days or so will most probably be very low volume days as traders decide to utilise last two weeks of summer holidays.
• Overall the market continues to trade in narrow range and probably will continue to do so till few weeks before next earning season.