The correction is an opportunity?

The techs showed their strength but failed to enthuse the market except in TCS and Satyam but failed to hold on higher levels is a concern reflected in the fall from higher levels. The worst hit was the capital goods and the metal space.
As posted, the ONGC didn’t trade above 918 come down to 900 level but RIL traded above 1781 went to 1835+ level. Idea fared well in a negative market went to 129+ and IDFC showed its strength to stay above 126, above 129 it touched to 132+. The steels corrected from their higher levels as a structural adjustments in Tata Steel and Sail. There were no sign of concern for an immediate off load but wait and watch is the word of caution that came from the capital goods sector as it was the darling sector for bulls, offloaded first.