The fall expected from the top around 4700..is converting itself into a real threat for the bulls,,somehow, in my opinion yesterdays low around 4380, should held,on the closing basis.
there are strong supports in the band of 4350-4380.
a faster rally beyond 4509, only will confirm the strenth of bulls.
i think todays close should be very crucial,,but after such massive falls for 3 consecutive days,suggests that we may only have a corrective rally,before we can see further downside upto,4150-4250 band,before one good upside rally.
in anycase for me 3916 should be considered as a rock-bottom.and for the coming 1 month atleast, watch 1715 around for reliance as a TREND DECIDER level for india markets.
Readers have habit of forgetting such levels , mentioned here..but i request all readers to take serious note of this reliance level.
i have had some problems with my systems,,so cant upload any intraday charts of yday.
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