It looks like there is some more steam left. It did not happen exactly the same way I mentioned yesterday; but rallied as expected. Re measuring, I get different resistances than mentioned yesterday; but close enough so that the difference can be ignored.
I expect NIFTY to open positive tomorrow and spike to 4162 and turn down. The maximum it can go this week looks to be 4230. It can even turn down from the current level.
The next drop can very well take it 3800 or below-a sharper fall than seen last week.
