Intraday Range: 16650-17000
Short Term Range: 16650-17200
Intraday Range: 37300-38000
Short Term Range: 37000-38000
Major draggers: Banks, Financials & Energy
A probable dark horse: #MAZDOCK
Hath ko aaya muh na laga sums up yesterday's trading session. All the rise via Gap Up was sold & we closed in red and on top of that US markets also closed in red. Gap Down would be there. Maybe of 40-70 points. 16800 is rock solid support on both Daily & Weekly Time Frames and I expect it to hold. Maybe we may see a quick down move below this to hit all stops but closing matters. Today we have lots of events lined up so obviously volatility will be there.
Position sizing recommended: Small
Should we be cautious? : Yes.
Area of averaging PF? : 16700 (Keeping this level intact for a few days as long as we're closing below 17500)