As expected, absolute mayhem prevailed in market today ( combined effect of budget and F&O expiry ? )..
But we warned you earlier.. Kindly refer to the earlier posts...
Look at both Weekly & daily charts ... updated as on 28th Feb market close.
On weekly chart the channel breakdown we talked about earlier, is almost complete..unless of course a miracle happens tomorrow...
In daily chart, a huge engulfing bearish candle...confirming what we said earlier that bears are in firm control..
Only silver lining though is the manner today's selling took place..It was somewhat climatic in nature, so not ruling out the possibility of a dead cat bounce soon.
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