Although the news of $10 billion tapering by FOMC was globally well discounted but all the Asian markets moved into Red after same decision yesterday night and Indian markets are also participating Global weakness through more than 1% down trading. 30 sessions trading range(6130-6415) broken down today and next supports are lying at 200-Day EMA(today at 5999),its testing can not be ruled out.
Wave-3 is on and recent down moves are being considered its correction only and finally sustaining beyond 200-Day EMA should be watched for Long Term Trend confirmation which is still up
Wave-3 is on and recent down moves are being considered its correction only and finally sustaining beyond 200-Day EMA should be watched for Long Term Trend confirmation which is still up