Market Status continues to bearish. I had few months ago, mentioned that NIFTY could touch 4700 and advised a safe exit from cash stocks. Congratulations to those heeded.
I am forced to review the target (on weekly scale) to a fresh low, as the price action of NIFTY is pointing towards line # 5, since line # 4 is convincingly breached by a closing below it. See the point BD.
Such a breakdown is a clear possibility, unless an abrupt rally takes place.
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