Fed rate cut.
What does that mean? fiis might pump in more cash.
$ to fall more.
Re to rally. Tech/exporters will remain under pressure but market might try
5996/6083/64xx
So far 599x in futures and 5970 in spot have been good res.
Should probably take them out.
Stoploss for the bullish view is 5800.
Yesterday the support from triangular trendline at 5885 or so was pointed out during the final dip. That was the place to enter for aggressive bulls with a small stop and now bulls will have to enter with a bit wider stop. The breakout from triangle will be today or tomorrow; I expect some really big moves soon.
Remember it doesn't matter whether you are right or wrong about the market as long as you make money (*trade hedged*). Hedges for last two sessions were colgate and sobha.
I'm guessing any exporter will be a good hedge for next 2 sessions.
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