CMP 74.9 BSE 17731
- In an earlier Post ( SEE THIS ) I had said that if 72 breaks on a closing basis decisively then the next support is at 66.
- Yesterday, during the sell off the Srip touched 68.75 intraday but closed at 70.10.
- Today, of course. its been a different story and the Scrip closed strong at 74.9 with an intraday low at 70.2.
- We need a few more closings above 72 to confirm readiness for the next target 81
- On the converse side, we need a few more closings below 72 for readiness to test support at 66.
- I am sorry if that soumds a little like fence sitting but that's the way the Market is.
- Therfore watch 66, 72 and 81 closely.
- Long term buys just wait a bit since the upmove today is not enough to confirm resumption of the broader Market uptrend.
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