SENSEX : the expected correction is on.
Looking at yesterdays recovery from lows the correction may have ended BUT on the charts as on yesterday the EXPECTED inverted head&shoulder structure is not much clearer so the correction may continue for a few days.
Watch the support levels to work and then we will decide but if on any day the correction gets over when SENSEX closes above 18725.
NIFTY :
NIFTY took support at its 13 DAY EMA in the downside correction BUT NO CLEAR picture yet for the correction ended or not.
It may take a few more days in the small range of 5550-5450 and then we may see the correction ending.
A strong up move above 5605 will put an END to this correction but if the downfall continues and closes below 5432-5387 it will not be a good sign for bulls, so keep both side moves open.
on the charts as on yesterday the EXPECTED inverted head &shoulder structure is not much clearer so the correction may continue for a few days.
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