This Thread Is Meant For Nifty Futures Only.
Pardon Me For This Post about DowJones.
Dow Jones Closed At 7063.
Dow Jones Is Trading Below Its Stop Loss That Was Placed At 7500.
So Now, The Major Resistance For Dow Jones Is Pegged At 7500.
Up Trend To Initiate Above 7500 Only.
6977 Is A Very Crucial Support.
If Dow Jones Cracks Below 6977 & If It Fails To Sustain Above 7000, Then One Can Expect A Fall Upto 6504, 6032 & 5559
Imagine, If Dowjones Falls Down To 6504, Then Where Would Sensex, Nifty, Hangseng & Nikkei Stand???????
Therefore Sustaining Above 6977 Is A Must Or Else A Deeper Correction Is Expected In Global Markets.
This May Seem A Bit Scarier, As Per Technical Analysis, Below 7500 - 6977 There Is A Possibility For The Dowjones To Touch 5559.
So Unless & Until Dow Jones Does Not Close Above 7500 With Huge Green Volumes, Or Unless & Until It Does Not Sustain Above 6977 7000, Bull Market Wont Happen & There Is A Possibility That Dow Jones May Keep Making New Lows.