On Tuesday, the Market opened lower as compared to previous close and failed to breach previous day's highest level,
which was the minimal requirement for further upside. However, it has respected to the Fibonacci retracement level
of 5120/17100 in the second half and managed to close above the same.
Today, in case the market sustains above yesterday's lows of 5120/17100 then we can expect bounce back to 5175/
17230 and 5190/17330 levels again. However, if it fails to sustain above 5120/17100 then we may expect continuation
of the weakness minimum up to 5085/16930 and maximum up to 5030/16830. Our advice is to reduce trading long
positions, if it sustains below the level of 5120/17100. Expect short-term break out only above 5210/17380.
