The Sensex & the Nifty have corrected almost ~7-7.5% from their recent highs to yesterday’s lows. If we can manage to hold on to yesterday’s lows – we can see a fresh rally from these levels.
The region from ~17600 to ~17900 is fraught with resistances, but for now we need to see if the recent lows hold. Aggressive traders can start rebuilding staggered longs at the current levels, keeping a trailing SL at 58000/17280.
23 Nov 21
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