DFM in Range

Red candle again for the 8th day again and on first day of the trading week. Market is caught in a range market opens positive but cannot maintain its strength and closes negative market is trading on a thin volume & not many trades are happening these days. Today it closed red and made a brearish doji candle, thursday it made bullish hammer candle taking support at 2051 area. So bulls and bears are fighting for a direction and one thing is for sure there will be a big move soon on either side once this range is broken more the consolidation more the bigger move. No doubt market is weaker and as of now sellers are trying to sell what ever they have there are no big buyers for now. Smart money is waiting for some catalyst to buy the stocks. I am still bullish till the time market is above 2050 area which is a very crucial support area. I think there will be more selling pressure tomorrow in the first half and market may recover later. Lets see how the market performs tomorrow.

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