Todays session was just red red all over, it found support ar 2050 level and it took off from here but in todays session it made a red candle closing below yesterdays close there was heaving selling pressure and profit booking on pervious gains it means investors are booking profit early and are not confident. Profit booking normal and such small corrections after big moves are normal but we didnt have a very big move yet. It closed just at the near support level as marked in the chart, 2080 is support area now. So what next? i think market should resume upwards tomorrow or stay in this zone for another day before making a move upside. We stick with our scenario that trend line is broken and now the market is in the range that can potential make a W pattern. Tomorrow is last trading day of the week and i can expect more selling pressure as investor would not like to keep their positions open. As long as market is above 2050 i am bullish.
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