After making a new high Nifty finds temporary bottom.

There was an immense bout of profit booking specially in the mid and small cap stocks decimation happened in PSU stocks. Many of these stocks are near important support levels now. Many seem to have taken support today. Nifty itself took support today near 25376. Looks like this was a strong support below which is another important mother line support of 25322. To know more about Mother, Father and Small Child theory read my book available on Amazon in Kindle and paperback version. Below 25322 the important support levels will be 25278, 25134 and 25008. However as support of 25376 has been taken for now things look little rosy to start the day with resistance levels will be 25485, 25533, 25611 and channel top now is at 25712.