Market is trying to consolidate, see decisive move only above 5690.
Now if market moves above 5690, there will be a very good short covering rally that can happen.
Since these levels are so much crucial and market can give either way movement, either trade if you are very much fast in covering position or do not trade at all.
Though the market is quite negative, this level is very important as it is at the bottom downward slopping trendline and bounce back can be expected which is very severe.
If market breaks the days low, then only you can see downfall upto 5530.
Now if market moves above 5690, there will be a very good short covering rally that can happen.
Since these levels are so much crucial and market can give either way movement, either trade if you are very much fast in covering position or do not trade at all.
Though the market is quite negative, this level is very important as it is at the bottom downward slopping trendline and bounce back can be expected which is very severe.
If market breaks the days low, then only you can see downfall upto 5530.
No comments:
Post a Comment