Short Video - How Index cracked from 42000 to 39000.
Thanks for watching.
Regards,
Abhishek H. Singh, CMT
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10:40 Hrs / 2nd Feb 2023
Last @ 40200
We got a short term bounce upside post gap down opening but failed to hold 40500.
Short Term Trade-
Next Traders have to buy only above 40700 else avoid buying
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12:00 pm / 2nd Feb 2023
Last @ 40504
If Index holds below 40700 which is current resistance then we expect a drop to 40100 39760 39500
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1:49 pm / 2nd Feb 2023
Last @ 40247
Index dropped to 40065 from 40550-40600 zone but move is quiet slow & suggest we are in the middle of a complex correction.
Further selling only below 40050
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2:16 pm / 2nd Feb 2023
Last @ 40333
Once Index crosses above 40600 - Bulls might become aggressive & Index may start upside move which will be confirmed later crossing above 40700 highs also as 2nd level of confirmation
Looks like Index has psychological support close to 40000 (40K) level