Clearly it could not hold above 1900 levels and selling pressure was witnessed in early hour of trading. Interesting part is it bounced right at the 26 days tenkan sen (base line in red) which is ichimoku's important indicator and a medium term trend line. Also 1850 is a 50% fib level from the current rally. Good chances that market can bounce off from here to the next higher levels. There is also possibility that it cant hold and we may go further down to test the swing low that is 1800 level. Major news expected this week which may also direct the markets direction. Lets see how the market goes tomorrow i am still bullish on this one. Happy Trading
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