Daily Chart
The hope of the correction being a consolidation within a bear flag was broken with a huge bearish candle which broke through the flag's lower trendline and through the strong support of 1182.Extreme bad breadth and huge volumes show bears may be in control for a while now.
Thers is good support at 1168 from the 50 dema and at 1155 being the 38.2% fibonacci retracement level of rise form 1040.
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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