The selling started above 5500 yesterday and with a market close (at 4.30pm) under 5449 we can expect the correction to continue. 5449 was the market high during the consolidation period between August-October.
5360 is major support. Ideally we need the market to break below this level to see further selling in the near term. If we can't then expect a short term bounce higher which could end near to 5500.
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