For the chart readers or those trying to read charts, like me ...the hanging man has appeared which is an indication of a trend change going to happen or an end of the bull run is soon enough. But there are certain conditions to be met for the change to happen, and will explain more on this later.But the net result is that we can see a drop happening soon enough.The early signs of this would be bank nifty hitting its resistance, and not being able to go through it.
The next 2 sessions will be crucial, and every one is expecting the market to soar further, and reach new highs, but then the market do not work that way and it has been proved many times over. What one wishes for never happens.The hanging man will be proved right if we try to go below 6287 where a price breakdown can happen, and we do not close above 6357 eod.By the time the US Employment data will come out which should confirm further that the economy is not on track and all is not well out there in the colony.
The trend changer levels for tomorrow are NF 6337 and for spot buy above 6336 and sell below 6317.