it is consolidating on a downward channel of range 900 points, and already up 400 points from bottom. it will continue to be in this channel for some time till morotorium expires and upticks in quarterly results.
On weekly chart we can see that it has retraced 50% twice.
it has retraced alomost 100%.
Now it has retraced almost 38% which is at 53 level, i.e today it touched 50.4 levels. considering the economic situation it is difficult to retrace 50% level. if nifty support it can do so.
