Markets crossed the threshold of 8850 briefly to reverse voilently breaking the 8780( NF ) zone to head down for retest of the lows..8550-8600 seems to be a support zone below the last weeks low where markets can halt, consolidate for a relook upwards , failing which possibilities of breach of recent lows emerges strongly..if this correction continues then 8000 or lower can be tested below the lows made recently.Stay above last weeks close for a few hours may give a fillip up to the market watch that zone and trade accordingly. cheers.
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