The Pullback Scenario: If market reverses from 10080-10120 then 10032 would be the level to watch out for. Above this level cautious scenario would work. Below 10032, the 9900 level would be quite possible. At this level the pullback may end, and a reversal is possible.
Extreme Scenario: If next week market goes below 9900 (highly unlikely) and sustains below 9975, then possible targets are mentioned on the chart.
No sell opportunity at 10035 and 9920 already hit. Next trade could be a buy in the reversal zone.
While writing this post i had no idea that the targets on the downside would be achieved too early. I was expecting at least one more pullback on upside before hitting these targets.
Currently, the Index would face resistance @ 9900 but the confirmation for bulls would be above 9950; from where 9990 and 10020 can be expected on the upside.
If it breaks 9836 again then 9794 is quite possible.
Expecting a pullback to resistance zone before fresh short.
As the index is trying to hold at the support, i will consider buying at 9745 for 9775.