1) 11060 green area sustained if any bullish signs then only go for Buy-side targetting 11150/200 ( Support as per option chain analysis(OPCH))
2) Pink Line intersection which is short term up/down trendlines joint may work resistance(double confirming with a divergence)
@11060 level rejected then definitely market may come down till 10960/50
3) 10950 is short term support as per OCHA
4) If there is any further rejection at 10950 markets may fall till 10800/50 soon
(OR)
5) If there is any bullish sign @11000/960 buy and target 11100 (follows blue line)
6) mostly my view is downtrend becoz - even though retail traders feeling as bullish on FII surcharges reduced, but if you see today FII data still they are net sellers when markets raised they trying to exit, I think the reason is not FII charges, MSCI regig( Emerging market global index adjustment until end of august
2) Pink Line intersection which is short term up/down trendlines joint may work resistance(double confirming with a divergence)
@11060 level rejected then definitely market may come down till 10960/50
3) 10950 is short term support as per OCHA
4) If there is any further rejection at 10950 markets may fall till 10800/50 soon
(OR)
5) If there is any bullish sign @11000/960 buy and target 11100 (follows blue line)
6) mostly my view is downtrend becoz - even though retail traders feeling as bullish on FII surcharges reduced, but if you see today FII data still they are net sellers when markets raised they trying to exit, I think the reason is not FII charges, MSCI regig( Emerging market global index adjustment until end of august
Comment:
11100 worked a resistance so next support may seen at 11000 then 10900/50
Comment:
1) analysis working price action never lie like new channels or trade pro's
2) all retailers went bullish for providing an exit route to FII's
2) all retailers went bullish for providing an exit route to FII's
Comment:
Target 1 & 2 completed waiting for target 3