We have yesterday posted chart and showed -ve divergence which pulled market down. Now all have same question in mind are we moving down to see 3900 levels ? This small so called bull market ended ?
What we feel is this fall has to come as many indicators showing -ve divergence and where not able to move up. Yesterday if anyone tracked Yen has also fallen 1.3$ and so sentiment was negative from morning itself . If you watch crude you will see if bounce back which show bulls still alive and will take all opportunities to save their goal post.
Now our view is any bounce which has to come should come here and we should hold 4345 on closing basis .We will suggest buy on dips here with stoploss below 4300.
Regards
Niftytrends Team
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