Good morning friends,
Well, it has closed below 100 DMA and it has faced resistance at 100 DMA. This market is definitely turning weaker on chart as the days progresses.
It is looking for retest of 16800 levels again. I have drawn some Fibonacci retracement and it is looking to take support in the range of 16800 to 16600 levels and that's too wide.
If it breaks 16600 then we can visit the levels of 16200 to 16000 levels. While on higher side it may not be safe as long as it is staying below 17200 levels.
Flat start may again invite selling but I will not be easily tradable. We already saw too many swings in the last session.
At these levels I advised caution even from long term picking.
Happy Trading.
