Good Morning Friends,
Now a days it may be difficult to predict the market on EOD basis as market used to surprise during trading hours. Yesterday it has shown resistance around 15900 but the fall has surprised with its magnitude.
So, the out come remains same for the day. Meaningful resistance remains at 15900. Suppose if it makes another top around 15900 then it will become "double top". If that happens it will not be in favour of bulls.
Already, underperformance of Bank Nifty is concerning. Remember, Bank Nifty is far from its all time high.
That's the reason for caution. I will not trade long for the day. Let the market decide the direction.
Happy Trading
