Technical Outlook and Trade Setups:
The overall structure remains constructive for bulls. Recently we have witnessed a sharp decline towards 1,685.00 level before testing and pulling back sharply. Till the time prices remain above last months' lows at 1,672.00, expect higher highs to be printed in coming weeks. It is recommended to hold long positions taken earlier and also add more during intraday dips. Intermediary support is at 1,680.00 followed by 1,672.00. A break below 1,672.00 level shifts focus to 1,640/45 levels and it is recommended to buy further. Buying dips is recommended for now (1,690.00 - 1,700.00).
Trading Recommendations:
Hold long positions for now, buy further during intraday dips, stop below 1,672.00. Target is open.
Good Luck!
