Tuesday’s rebound from the rising trend line
support followed by two-day winning streak and move to 7040 levels today suggests bulls have regained control, still the journey to fresh record highs needs a daily close above 7055 (Oct 14 high).
On the lower side, only a daily close today below 7000 levels would open doors for a re-test of rising trend line
support seen sloping higher to 6975 by tomorrow.
On a larger scheme of things, only a daily close below 6975 would signal trend reversal.