A downside corrective move that close below 48180 may be a sign of major weakness in the coming session. If the above mentioned region remain untouched could expect prices to turn higher.
Prices likely to consolidate within the trading range of 70700-72500. A firm move which sustained above or below the mentioned region would set the directional move.
By claiming trades below the downside obstacle of 5175 may trigger a long liquidation move in the coming session. Else hold the same for a broad buying to continue.
Broad buying still intact, but need to challenge above the upside hurdle of 248.80 for the extension of present buying. Else hold the same for a downside corrective move.
Current feebleness of prices likely to extend in the session to come. Even in this bearish picture, a retreating move above 726 would lift prices higher in the later session.
Present long liquidation move possibly to persist lower in the upcoming session. Even in this weak bias, reclaiming trades above the 1326 could push prices higher.
Intraday price recovery may establish only by solid trades above the upside obstacle of 239.40 region. Failed to move past above the same may be a sign of further weakness.
As long as prices remain above the downside support of 169.30 region could expect prices to rise higher. But decisive trades below the same may gradually take prices lower.
By breaking the downside hurdle of 192.40 could boost prices lower in the coming session. Inability to mark such trades may be a sign of intraday price recovery.
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