Failure to take out 5-DMA, 10-DMA and 100-DMA for three straight sessions (including today) has opened doors for a drop to head and shoulder neckline seen around 6685 levels.
A daily close below 6685 today or during the rest of the week would signal long-term bullish trend reversal, given the pattern has developed at records highs.
On the higher side, only a daily close above 7K would open doors for a rally to record highs.
A daily close below 6685 today or during the rest of the week would signal long-term bullish trend reversal, given the pattern has developed at records highs.
On the higher side, only a daily close above 7K would open doors for a rally to record highs.
