If we see a break below the ascending support line during market open, we could see sharp selling pressure followed by a sharp recovery from around 15556 (or lower) atleast back up to the ascending support line. As many stocks are at relatively cheap prices compared to what they have been trading at for for a while, which may lead many investors to be excessively eager and rush in with long positions
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Trade closed: target reached:
Prediction was completely accurate: price fell below ascending support (during market open), followed by sharp selling and a semi-fast recovery back to the ascending support line.
Now trying to regain the ascending support, likely to trade between 15680 and 1550 for some time and close in that range by the end of the day.
Now trying to regain the ascending support, likely to trade between 15680 and 1550 for some time and close in that range by the end of the day.
