After failing to cross the resistances, the markets have broken the SL levels of 40151/11775, given in this column yesterday.
The only consolation for the bulls is the fact that the markets bounced off smartly from the intraday lows and the SL levels were not broken with a huge gap.
Going forward, yesterday's lows are now a strong zone support on the downside and on the upside, the markets have to convincingly cross 40300/11800 to rekindle the hopes for a 12000+ expiry later in the week.
As long as yesterday's lows are not broken - remain an aggressive buyer at every 50 point move on the NIFTY.
|Date||27 Oct 20|