There is a definite change of Trend & Sentiment in the Mkt.A downtrend is on progress.Once again the
need of the hour is to determine the faith of the Long term Trend.All studies are absolutely Subjective.
Nifty Fut is going to scale 7300 in months to come :thumb:,prior to reaching that the down side is
much more to come from present level.There be no ambiguity in this that
we may see 400 to 500 points
down side from here.
All Up or Down is basically in Wave type nature,there is no straight Up or Down,hence any 100-200 points
Rally should not deceive us that the down side is halted,until we get definite indication ,presently the
major trend is Down.
These observations are extremely subjective in nature & many a time these observations are found to be
wrong in the past.
It may be noted that we are in 4th Down Wave,where the minor waves are unfolding.
Present levels to watch:=
5686.20 was the earlier support.
5830.95 is now the Resistance area.
5762.44 (on closing basis) is the Critical balance Price.