By a Staff Reporter: Yesterday Op & High 18129, so bulls unable to close above 18153. Almost flat opening then bear move continuing & below 18080 did 3 targets on downside, major 17888 met < Low 17884> & took support from that crucial area. After moderate recovery from that level finally settled at 17938, declined 175 points or 0.96% forming a bearish candle on the daily charts.
Explosive move yesterday, directional move is round the corner.
The market fell sharply for second consecutive session decisively breaking 18000 <13dma> mark as FII selling, rising oil prices and inflation concerns weighed on sentiment. The U.S. Federal Reserve is due to meet Jan. 25-26.
Traders should maintain strict stop losses and adopt buy-on-dips strategy. Volatility may continue till the budget session, better not to overtrade in the current scenario.
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