Hi All,
Update on the market view -
As expected after breaking crucial supports near 10950-11000, markets slid further down and achieved the first support target of 10850...
Now going forward, 10820 (Daily Supertrend) -10760 (daily bottom) will act as crucial supports, traders can book partial /full profits around these levels, or trail stop loss at cost, as I feel that further downtrend can only accelerate when it breaks the mentioned supports.....
As of now, there is no concrete sign of bullishness, hence a long trade is not advisable unless we get to see something positive on charts.
Cheers
Hrishi
Update on the market view -
As expected after breaking crucial supports near 10950-11000, markets slid further down and achieved the first support target of 10850...
Now going forward, 10820 (Daily Supertrend) -10760 (daily bottom) will act as crucial supports, traders can book partial /full profits around these levels, or trail stop loss at cost, as I feel that further downtrend can only accelerate when it breaks the mentioned supports.....
As of now, there is no concrete sign of bullishness, hence a long trade is not advisable unless we get to see something positive on charts.
Cheers
Hrishi
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