Regional, specifically HS and China, tumbled on profit take selling ahead of Fed.The first major setback in more than 4-weeks as Fbm.fkli finished below 7SMA. In 4-week, the mkt rallied, more than 125 points from 1060++ to 1185++. Pullback scenario : min 1/3 pullback > Horizontal support line ( see above) around 1140++. Immediate support is seen at 1160
Technically, mkt outlook shifts to a short term sell for consolidation mode.
Above 1180 can revive bulls hope but the next strong buy signal will appear if mkt cross above the horizontal resistance line. In the meantime, no urgency to go fresh long this week.
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