Will tomorrow will be a blood bath day or a breathing time? A million Dollar question…
Look at the circled area of the chart. even though there was enough time and "panic" in the market, NIFTY could not break the 4200 mark. It is still hanging around the last two Support / Resistance line (Between the circled areas). Hence it looks like NIFTY could take a breather for the next couple of days and may go to 4395, well ahead than expected in my weekly report. But in case NIFTY opens below 4200, then we should see a smooth fall to 4050. It all depends on how NIFTY opens tomorrow. However, the medium term bearish trend I still intact and for position traders the breather "IF" happens, it is not going to affect. It will give them only an opportunity to add more SHORT positions so that; in the next fall, Blood is spilled around.
