In previous article, I told you about range bound price action will be seen between 41500-51000, and short trade was advice at 51200 levels. It faces resistance around 51436 and reversed lower, made a low 47320 in yesterday session, currently traded at 48600.
In coming session, it is well supported at 47K (-.61.8 ratio) or 46103 maximum downside for a bounce towards upper range 54249.33/55018.
So, from risk reward prospects long position at current level is more relevant, as downside is limited.
Sustained and 4H Candle close above 48692 will attract bull for said Target this week.
Strategy: Long at market, add more if 46103 seen for 54249/55018.
