Consecutive closing below 8250 zone, more panic may come
And CA-50 can fall up to 8030 & 6450-6250 in the near term
(i.e. up to 25% from the present level)
For any stability, CA-50 need to sustain at least above 8750-9060 zone
Dovish Fed may bring USD lower and help China to stabilize
its currency in the near future,
its currency in the near future,
But in the long term, structural reform is required
for the real economy in both EM & DM
for the real economy in both EM & DM
CMP: 8655
Buy:8500-8400
TGT: 8750*-8900-9060*-9220-9350-9585-9865 (1-3M)
TSL<8330/8250*
Note: Sustain below 8500, CA-50 can fall to 8415-8330-8250 zone, which is again a strong technical support area.
Only consecutive closing below 8250 zone, more panic may come and in that scenario, it can fall up to 8150-8030* and 7570-6800-6450 to 6250 zone in the foreseeable future (i.e. up to nearly 25% from the present level).
Analytical Charts:
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