If we shift our charts to weekly and have a bigger picture we can easily identify a uptrend, the market is making higher lows and higher highs that is a proper definition of a uptrend. As of now its at very critical support area if it breaks to down side the next support area is 1890 area and 1720 area respectively. If the market have to go up from here bulls have to act fast and this week, if the market goes below this level at the end of the week we can say shift in the trend is taking place and further selling pressure can be witnessed. As a day trader i am bearish on this one but for a long term trader it can still be bullish. Lets stalk this one for the coming week to have a idea about the trend.
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Hit like & follow if you like my analysis.