THE COUNTER IS TRADING BELOW ITS CRUCIAL SUPPORT AREA OF 395 FOR THE LAST COUPLE OF WEEKS. RECENTLY IT TRIED TO REBOUND BEYOND 390 LEVELS BUT FAILED AND FINALLY TODAY IT WITNESSED PULL BACK FROM 380 LEVELS. IT KISSED 362 LEVEL A CRUCIAL SUPPORT AREA AND CLOSED AROUND 365 LEVELS. STILL THE COUNTER IS LOOKING WEAK AND ANY LONG POSITION MUST BE AVOIDED UNTIL COUPLE CLOSES ABOVE 395 LEVELS HAPPEN. WE ARE BEARISH ON THE COUNTER AND BELIEVE THE COUNTER MAY TEST 320-315 LEVELS IN MEDIUM SHORT TERM. RISKY TRADERS CAN INITIATE SHORT POSITION AS PER THE MENTIONED LEVELS.
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