If we hold the recent lows, that would officially be a double bottom and we should be heading towards 25200 in 1-2 weeks. Above that, it would be a grind on the way up to reclaim the ATH. However, should this territory not be defended, we are heading for another leg fall, probably towards 24100-24000. Whichever ways it is, Market is at a level to give good trading...
The support zone should hold given how have seen the PA since last 2 days. Below the box, we might see a fresh low, which seems unlikely at the moment. However, Market is Supreme to decide.
As we have seen a recent bout of continuous selling in the Markets from past 1 week, a bounce is in the offing. Nifty stands at a critical juncture for a possible 200-300 bounce back only if today's low holds decisively. Else we might see more downside. Strong down moves also lead to strong bounce. My bias is on the long side should today's low hold. Let's see if...