On weekly chart we are still making a higher top and higher bottom, so the weekly trend is up.The bottom of last week was at 4942.90.If it breaks then the weekly trend is in danger.So traders should watch for 4940 as the level for stop loss on closing basis.Be ready to enter again on close above 4940 if it violated.Another level to watch will be 4806.05 below this level will confirm the up move has ended.
Happy Trading!
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