It was a complete bull engulf yesterday, with markets breaking the key resistance level of 4915 and trading above that for most of the time in yesterday's session.
4950 levels have been established again as a strong resistance and even if markets make an attempt to scale that, there will be a strong pull back.
At this juncture, the near term view of more correction is still very much intact and markets likely to test 4710 levels, before the expiry of this series.
Resistance levels : 4953, 4969, 4985
Support levels : 4915, 4886, 4865
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Happy Trading
www.tripleint.com
www.tripleint.com
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