The fast and furious counter trend rally in G SEC seems to be coming to an end. I am holding this premise on the ground of confluence of Fibonacci confluence zone and RSI readings. First,The rally is getting a hault at 61.8% retracement of previous leg down and second it is right at the confluence zone of two market swings. Third, the RSI is getting stiff resistance at 55 level on daily charts, the range fixed for bear market rally tops and on hourly charts it is showing signs of divergence and is on the verge of breaking below the support range of bull markets.
All in all, amidst all the hype of Repo rate and CRR cut. I am holding the view to exit long positions and start accumulationg shorts around current levels of 102.20-30.