From Previous Analysis- we picked TM above 450 but unfortunately -it did not move above 460 convincingly so, came out of the trade above our entry point at 450 & above.
Leaking below 437, TM showed more weakness & travelled till 417 lows recently. In current scenario 428-430 is the resistance zone- if TM comes in the zone 425-427 gets rejected then bulls should be careful.
Short Term Trading Strategy
Bounce in the zone 425-427 can be looked as -once holds & starts falling back below 425 then look for Intraday moves of 415-417. This trade to be active -it should get resistance in 425-427 & behave as we expect.
You would love to read my previous update- "Hitting the Top@485- Are you dreaming - Drive it"
425 is holding for good so unless 425 is broken down & sustained TM won't go down in that case holding stops below 425 - TM can bounce back to 430+ in sideways positive bias.
Short Term Target Achieved above 430+ as expected previous night holding above 425.