Have to be patient. Either it goes down to test the Rising Channel and take support from there. In such situation i plan on adding longs with SL at the low of this consolidation. Other scenario calls for extreme bullish movement. If it does not fall to test the channel at all, and directly breaches the swing high then we can expect a breakout and good rally to get the market back to 9000+ levels.
well i feel 8000 levels once then it will move towards 9000+ levels
EagleVision8
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@CAYashJain, Gap up has made it a little difficult to retest 8000 again, unless ofcourse the worst in the world markets is not over yet
CAYashJain
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@EagleVision8, yes sir gap up has made and it signals beginning of new trend but looking at global scenario and VIX, i think gap will be filled in next 6-10 trading sessions. Let's see what happens