Good morning friends,
It was a sell off and a panic selling too. Eventually it broke 100 EMA with ease. Now, question is will it break 17000 levels in that ease?
Fine, as per charts are concern, 16890-16800 is the level to be tested but it seems we are going to get gap up as indicated by SGX nifty.
In that case 17145 which is 100 EMA will act as threshold point. Definitely, I will not short this market without bounce. It is likely to test 17250-17300-17350 levels if this can manage to stay above 17150 levels.
If break 17000, in an hour it can hit 16890-16800.
Happy Trading.
