Let's quickly get to the charts.
I can observe a completed at 10180. This could be taken as a reversal trade setup with traditional targets at 10295, 10330 and 10365.
So If this setup works I would be passively for the above conservative targets. Only on break and close above 10420 (on this chart), I may again play for 10600. Further targets can only be derived after looking at the price action above 10650 level.
What if 10140 is breached ( either after hitting above targets or otherwise). In that scenario, I will be for 10000 psychological level target and the extended 9700-9750 target zone.
Hope this brief analysis will help some traders to plan their trades well.
Happy weekend and wish u all a more profitable week ahead.
Have a great week.
Two things can happen at this point. Market breaks today's low and head lower or it pulls back. If market pulls back then there would be sell orders sitting at 10030-10100 zone, which won't let the market go any further so easily. If market breaks down today's lows, it would reflect weakness but at the same time who would sell at the lows..I mean i would not sell. I would let my earlier positions run but won't make new positions.
New sell positions can be considered a the pullback level mentioned, that too after analyzing the pullback strength and weakness.
Hope this had been a good week for all of you.
Cu in some other educational post.