Hi all,
After RBI's 25 bps rate cut failed to cheer the markets, the picture looks very gloomy now as even the forecast for monsoons are not encouraging.
Still the bias remains cautiously up with strong support near 8080-8000-7950.... Below 8089-80 the daily charts will have a lower bottom formation which is surely not a good sign for bulls. And finally 8000-7950 are the KEY areas to watch out for if we want to have any upward rally in near future....
Cheers
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