Levels and Plan for 21st April

We discussed our changed bias in the Sunday review – the one which pointed to 8342 – 8321 spot as the imbalance objective of the move seen since last wednesday. The markets dived down 197 points today as the selling accelerated. Towards the close there was emotional selling and the market may have gotten more short than usual but a rise will be used to add new shorts.

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Levels and Plan for 20th April

The seller gained the upper hand at the weekly close on friday as the late longs panicked and gave in to the sellers who appeared first on Wed.The extreme short term now reaches the long support for the market at 8560- 8580 spot but there is enough evidence now that 8850- 8900 Nifty is second layer of supply below 9112 spot.

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Levels and Plan for 17th April

Yesterday’s late afternoon move picked up steam early in the day as late longs panicked and closed positions leading to a drop of 117 points H- L. However there were signs already that buyers were picking up at the lows and at one point the bounce measured 80 points off lows > We maintain consolidation as next likely move as discussed yesterday

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