Friday’s sell-off if followed by a failure to hold above 100-DMA of 2120 today would open doors for a further drop towards 2095 (rising trend line coming from Feb low and June low).
On the higher side, breach of resistance at 2147.6 (Aug 2 low) could yield a further retracement to 50-DMA around 2164.
However, the index appears a sell on rise trade unless 50-DMA hurdle is breached on daily closing basis.
On the higher side, breach of resistance at 2147.6 (Aug 2 low) could yield a further retracement to 50-DMA around 2164.
However, the index appears a sell on rise trade unless 50-DMA hurdle is breached on daily closing basis.
