I expected the bulls to support the ASI around 5869 which is the open on the 29th of October 2018. But the bears didn't care. The area between 5831 and 5869 is the zone of push and pull that occurred during the Great Coup in October 2018. 5831 being the close of the 26th of October, and as mentioned 5869 being the open of the 29th. In-between these to values we can see the high of the 26th of 5846 and the low of the 29th which was 5831 are placed. This area is very important to be defended. If that happens, then we will see the pivot line being tested around 5888 points. Thereafter there can be another breakdown to test the zone, and if the sentiments are bullish we may see a double bottom recovery, and trend up to test new highs. Else the index will break down below 5831 and drop towards the 26th October 2018 values, between 5768 and 5831.
Forced Selling amidst the selling by foreigners have resulted in the bears bringing down the market forcefully. This is why STOP LOSS is so very critical for Traders. If Traders trade on leverage without knowing how to cut loss They are not Smart Traders at all.
IF YOU ARE ONE OF THEM GET OUT OF THAT FOOLISH STRATEGY IMMEDIATELY. Many say you can't stop loss in this illiquid market, IF SO please keep your money in a Bank Deposit, or do some other venture, as you are not having the knowledge to come out with smart strategies.
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