2. Above 5500 ,as expected ,touched the fibo. level of 5550 ,which was 5dhema also .Couldn't sustain and once below 5500 ,was a free fall. see yesterday's fibo chart.
3. It may be the start of (iii) - iii - 3rd of the Primary EW count followed. See yesterday's EW chart too.
4. The Week traded largely in the range of 5400-5500 .
5. Today's Institutional figures are strange ,FII and DII both are net buyers ,then who sold for such a slide ??,has to be scrutinized segmentwise.
6. Option analysis has also to be seen in detail ,though 5500 aggresive call writing was done today ,5400 put writing was not covered in big quantity to justify the close below 5400 level. Is this close also a whipsaw below 5400 ??
Trade against the larger Trend should be light and nimble .