Reviving the thread after a long time...
EOD Observation for the 11th May
As anticipated yesterdays move did not bring in any strength to the market.. Today the weakness was very evident ..though .. the TIPS channels dubbed it as profit booking
The base of the descending triangle proved to a good supply zone.. The 5200 levels would prove a tough nut to crack in the near future.. The momentum is also waning. So in the near future we can expect at the best some side ways moves if not south.. As of now I am exiting my medium term positions though the peak drawdown is much more than I would like