The market dropped 19.80 points to close at 3228.95. So far, it has kept well to my 3250 +/- 50 resistance estimates. However, I do not rule out the possibility that my estimates can be wrong. We all would wish for a better market.
Today's downturn may mark the start of a downswing keeping the market in range behaviour. This provides it does not break its support, my opinion is that this should be at 3000 +/- 50. This shall signal a range market that might well be the start of a new cycle like I mentioned before. If it does break the support, the next support would be somewhere around 2800 +/- 50 where it was before. Simple estimates based on the charts and using some Fibonacci retracements and projections.
For now, I would continue to monitor the charts for buy signals and opportunity. In this high inflationary environment, investing in business trusts can be a good option as these hold real assets like ships, buildings and infrastructure. I would think of looking for opportunities in these areas.
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