Another large down-day on Thursday with profit-taking rally into the close. Whether or not the end of day rally is going to continue on Friday depends on where it trades in relation to key level, which is 2750 on Friday.
-- A clear break above 2750 has the potential to trigger a short-covering rally, with first resistance at 2767, then 2785.
-- Bearish below 2750, but it needs a clear and sustained break below 2725 to trigger another round of selling algorithm, with next support at 2710, then 2700. If a break below 2725 triggers a strong declining momentum, look for supports to break.
