The market is looking a bit shaky.

To be honest, I thought yesterday that we’d at least see a decent bullish reversal candle today, but the market gave me a resounding slap in the face.

According to standard technical logic—once the index breaks below the 60-day moving average and then gets suppressed by this line on a rebound, it basically signals a confirmed bear market. Next, we’ll likely retest the 3816 level. If it holds, that forms a double bottom structure and there’s still room to play. If it doesn’t hold, we’re really heading into a prolonged correction phase.

For now, we can only view this as a correction. Even if there’s a spike intraday tomorrow, it’ll most likely just be a dignified exit window for short-term funds.