Positional calls at this level are difficult to take. We are almost equally in between two important levels.4500 and 4900.
In the short term the View is Bearish below 4900, target 4600. The European charts have gone bad.Its a sharp traders market and if you are not strict with your stoplosses the market will punish you bad.
Risky traders can consider going long near 4650/4550 range, if comes.Though a mild bounce seems very probable in the short term, its nt advisbale to trade it as the medium term view is not bullish. If you get caught on the wrong side it becomes very difficult to reverse your positions.
Better to be calm and wait for the right opportunity to enter.
Have a great trading day,
Regards,
Rahul T.
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