Over the last 2 sessions, we tried to explain why we would have to go directly to bearish from bullish. One of the reasons was that we fell below the level that had 2 double tops in April & May. Secondly, there were no additional support/resistance points in between for a neutral zone.
What I am not sure about is, whether we can continue the downward momentum, especially because June 4th is less than a week away. If BJP wins back the 3rd time, the markets should outperform. If they get a lower number of seats - we may lose a lot of ground.
Hope my direction is right just in time, over the last 5 to 6 months, my directional strategies were just eating the dirt and bleeding RED. I am also quite aware that a move of 1000+ points could level the mounted losses.
For tomorrow we wish to start with a bearish tone and go long if 22781 is breached in the 63mts TF.
What I am not sure about is, whether we can continue the downward momentum, especially because June 4th is less than a week away. If BJP wins back the 3rd time, the markets should outperform. If they get a lower number of seats - we may lose a lot of ground.
Hope my direction is right just in time, over the last 5 to 6 months, my directional strategies were just eating the dirt and bleeding RED. I am also quite aware that a move of 1000+ points could level the mounted losses.
For tomorrow we wish to start with a bearish tone and go long if 22781 is breached in the 63mts TF.