Market view 20-01-2022
We have highlighted the index's support level earlier at 44500-44700 today index touches the level of 44700. if the index didn't sustain a 44500 level then it may enter in more danger zone so the matter of concern is to be vigilant and aware. We are trying our best to give awareness about the index and still recommend avoid, both short and buy calls. Now onward major support is 44k if it breaks then the index may go further down to the double bottom level 42700. for upside index must sustain the level 44500 and make a reversal candle then we may enter for buy-in tech cement and refinery sector for a quick and good gain. There are two scenarios for tomorrow either it makes a bullish engulfing pattern A long red candle and the next is a small green candle, or it continues downside.
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