Expiry had all the answers.
To sum up the Range of 5497 - 5740 got broken on the down side and on the expiry day.
As such the target comes to (5497-5740) +5497 = 5254 to 5250. We have closed below 5533 and also 5497 so definitely 5250 is on the way. As such intermittent bounces may be there but till we dont close above 5620 now it is a bear territory. Tom-morrow we would be watching the monthly close too.
For tomorrow resistance lies at 5512 above which the bulls may try 5532 - 5577 - 5605 also. On the contrary the Target of 5464 -5410 is still open as the close was below 5497.
Lets see what the august month holds for us.
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