Even though the trailing SL level of 38700 was violated on an intraday basis, the Sensex is currently poised just above a crucial support level.
We could see a possibly (?) last bounce from the current levels to the near term target of 39063 given earlier in this column.
Book profits/exit longs as per your risk-reward appetite - without bothering about SL levels.
The short to medium term outlook continues to be bearish and we will see substantially lower levels in the days/weeks to come.