Daily Commentary and Analysis

As we were seeing the weakness a few days in advance during the strong uptrend, market was sold off very deeply. Current daily trend has been down, but short term indicators are showing a halt in the strong downtrend.

Current near term resistance will be around 651 and support will be around 644. Short/Medium term resistance will at 658~662 and support at 640.

Current trend is slightly bullish at the time of analysis. Key levels to watch are 651 as a resistance area and 645 as a support.

Possible upside target can be around 658 and downside target would be around 644 if near term support and resistance levels are taken out.

Thanks for listening

Good luck

DailyCom

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