Well, are we back?Yes, yesterday I said that it was not good...

Well, are we back?

Yes, yesterday I said that it was not good that we lost our good support of 4.3. Is it co-incidence that buyers have brought us back to this number?

We started weak and there was a deliberate push towards downside. I didn't know where they would take it. But volume was not very high - the sell volume. Our volume today was moderate and only slightly less than yesterday, so the down day has been matched, for now, with similar volume on a slightly up day. So that part is good. But we are still comparatively not playing very large volumes - so still not much difficult to push it one way.

So do we think we have bottomed at 3.8? Not sure. Yesterday I had mentioned that there is good chance we could reverse from these levels. Hence I was cautiously optimistic that the probability is not bad to reverse from here. Many are still talking of lower numbers, gap fill etc - so please dyor and check individual risk/reward. I am hopeful at this stage and hence playing.

Personally, after much thinking I started buying at 3.9, this was after touch of 3.8. Picked up a fair few. Yesterday I had said I would be waiting, and first level was around here. Bought some trading as well as long stocks. My trade stocks average is now 4.1 but long ones still at 4.4, was 4.5 yesterday, only bought some for long.

So what will happen next? I think both buyers and sellers have shown their hands now. Sellers had a number of good days. I am hoping that they cannot have an infinite supply, so should be running out soonish if not already. But that's on hope, we never know. There is a chance now that we could make our move towards 5. Will that happen? Lets hope so. All the best.