Tech has pulled back to areas of support and I will be watching to see if the recent lows hold from here. If they can, we may be able to put in a nice base here and have the potential for some nice longs in the sector.
Energy remains super strong and I still think it has the potential for more upside. You can see on $XLE that the $62 area is where I may think some resistance shows up. But if we pull back ahead of that, i still like the buying opps down around $51 (20d)
As per my strategy this trade has taken support on 50MA which provide boost to create an uptrend
VEDL has recovered from the oversold region on the RSI indicator. Also, a Golden cross might be seen on the MACD indicator in coming trading sessions. Pricing is holding above shorter and long-term moving averages. Longs can be taken with an SL of 249.
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