Tuesday, January 24, 2017

Bulls had to give in today....Bears were so strong

Well only yesterday I posted about the strength of the 6150 support, but it lived only for the day. Today's close at 6134 was a loss of almost 30 points in a single day. Giving way for a slow downward slope, which is heartening. This tested  the RSI trend line of higher lows. The heavy weights such as JKH did not support to keep the momentum towards the bulls, as such drained the market to the down. A psychological support at 6100 needs to be held, else the next major support area will be around 6020 points.


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