Days have passed. But trend remains the same. 10437 could not be taken out till yesterday despite a very strong gap up opening on Monday. It is crystal clear that the gap up formed on Monday was to erode the PEs and a sell on rise by big bears.
Today still we have a chance to see whether this weekly close is above 10437. Else, this expiry could be anywhere between 10155 and 10290.
If this happens, then it indicates a further downfall below 10k. Expiry holds the key for next month move.
In Hindi there is a saying, It's a long way to Delhi. Same way it is long way to 10440.
Charts already started indicating likely downward trend. Never be long in this market.
Today still we have a chance to see whether this weekly close is above 10437. Else, this expiry could be anywhere between 10155 and 10290.
If this happens, then it indicates a further downfall below 10k. Expiry holds the key for next month move.
In Hindi there is a saying, It's a long way to Delhi. Same way it is long way to 10440.
Charts already started indicating likely downward trend. Never be long in this market.
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