As we have witnessed that there was a Breakdown and there was a correction of almost 3%. 230 can be considered as a level where we might see a bounce back from.
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We need to understand that the script has been in a bearish trap which is clearly visible in monthly chart but the great part is that the month bearish movement is about to end which can be derived from the distance between the two EMA (11 and 22) is getting short and we are about to see a cross over which is be a new trend or a flat market after that. We can look for an opportunity once it shows up.