Morning we ticked below pink line and impulse labels washed out and took our SL at 5902...
Tick below 5902 has made 2 probabilties both are given in the picture:
Lacks of positive divergence on 5 mins signals me this move may take out 5843 also and dip to yellow line (Option2)....
Or we may spike in the morning say 5880-83 and fall below 5844.4 but not below 5843 to positive divergence on 5 mins, then option 1 comes to picture...
How far it can down till the yellow line... lets see whether it holds..
If holds expected bounce may come...
What if yellow breaks and goes further below, i dont know now...
Both the views if holds ,we may see formal bull rally before budget...
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