If it cracks 6700 spot level we could see more grief all the way to 6650 or even 6635 levels.Those who shorted the idea would be to hold. However the bank nifty has not reached the trend changing levels as yet, it could be nothing but some people are happy to walk away with the profits on the table and not waiting for the election result.Or do they know better. But the level to watch is 12950 spot level if it cracks then we shall see more grief coming up.The index will or can go down as far as 12840.
The 15 minute chart shows a bleak picture for the day, caution is the name of the game, wait for the market to bottom out and then take the ride up.Targets given by many analysts and chart readers are 6914 by eod tomorrow. Seems very ambitious, but the trend is still very clear, be on the long side.