Markets have opened below the levels of lows previous day considerably. The cut is sharper than I had expected. This way it had made sure that no one is given opportunity to short the market.
We will analyze sensex opening/low values. Opening(12694) was just below the 61.8% pullback(12678) for the current rally of 12344 -13145 that we saw last week. Further it went down to the 200% pullback(12521) of 12788-13055(Monday's High) rally and recovered quickly to the 161.8% pullback of 12622.
Now there is no opportunity to short as it might trade between this two sensex values of 12518 to 12622 for the day. Is there buying opportunities, Yes but wait? I will post here again.
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