TASI Technical OverviewPosted on Tuesday, February 28 2017 at 5:40 am GMT+0000
With a probable daily reversal on the making, Bullish scenarios have been placed on hold in the medium term. Previous uptrend in the medium term has lost strength following the test of the previous daily top at 7200. And momentum triggers are warning of a return of Bearish sentiments. Only an immediate break above the 7200 level could restore the medium term positive outlook. While traders of the long term shall bear in mind the significance of the 6960 daily support, as a break below it would initiate a long term corrective phase, and therefore, prompt an immediate exit of the existing positions.