1232 Hrs IST : Markets experienced sharp correction which was long awaited. This continued earlier this morning. 4945 which was next best support to 4920, did not hold & gave way to the latter. On the contrary, former level acted as a resistance to a bounce-back rally from the index.
Yesterday, like Nifty took support on gap created on Monday. Thus, we should be in a lookout for gaps to provide support before they fill-in, and exit longs, or initiate some.

Stock specific view : Jayshree Tea looks good since morning. Bank stocks continue to soar.