it was a great day if you had a BEARISH view on markets.
As posted yesterday I was expecting NIFTY to test 24200 and break its critical support of 24000 in immidiate future but markets would do it today itself that wasn’t expected but since things are unfolding in anticipated framework there is nothing to complain.
As I discussed very clearly in above post that the intraday low of 5th,August is going to be absolutely critical so if this selloff has to intensify further then INDICES must sustain below todays intraday low.
If that doesn’t happen then we should get a kind of a pullback or consolidation for near term before next round of selloff takes place.
So lets not get carried away with todays move and focus on basics.
gann,insides 