Market managed to stage an impressive bounce BUT is this for real or just another trap? Lets take a look at charts and see if we get any clues regarding market direction.
As expected, market bounced from the support level near 10600 area BUT will this bounce hold! Is this end of correction or just a bounce from oversold levels!!! What can we expect in near term?
Last week, we saw the slide in the market which was much awaited and if one was NOT prepared then most likely took a hit. Market was overdue for a correction for quite sometime and now that the correction is here, how much longer it will continue!!! What shall we expect in weeks ahead and prepare accordingly?
Lots of talk in the media these days and bold statements made by many BUT what are the charts telling us? Lets understand the facts rather than illusion. Where is this market headed!!!
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