As expected and stated yesterday, we had big
down bar today and closed at 6148.05, a 2.0 % crack. Way below our star level
of 6240. The first target we mentioned was achieved already & other targets
are also in line, waiting. Now tomorrow as we have a very big event in the
market in the form of RBI policy announcement, we have to be very cautious on
any trade.
Prediction and assumption of RBI policy &
trading is not the way to trade, what we have in our reach is the technical setups,
which definitely pointing towards further downward move. But we do not know
what will be the result so we have to go short but with a strict Stop Loss. Target
levels have not been changed. Sell targets are 6100 & 6000 for short term
and Stop Loss can be kept at our old level which is at 6240. Please refer the
chart below for better understanding.
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