As anticipated in my report yesterday, The Diamond Top got confirmed by closing below the trend line. Also, the support mentioned is adhered to laser precision.
Now what? There could be a breakdown of this support or take a support here. Of course, I do not expect a meaningful retracement from here.
If NIFTY Close below the 5130 level, then, there could be tragedy. I do not expect it to happen tomorrow itself, even though such an event cannot be ruled out.
The probability is that, NIFTY drops to approx 5120-10 and pull back before the next fall starts..
