I had mentioned in this column last week that we could see some more downside, before the markets resume the uptrend. I had given the trailing SL level at 32104 and the Sensex hit the weekly low at 32108!
Going forward we could see some consolidation around the 32200-32300 band, but its safe to assume that the markets have bottomed-out at 32108.
Buy at the current levels and on dips till 32232 and keep the same as a trailing SL.
Aggressive traders and those with a slightly medium term outlook can keep a trailing SL at 32108.
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