Twice in the past this trend line or the channel bottom line has given support and a turn around has happened from this line. So one should believe this will happen again.
Keep the channel bottom line as stop loss.
THANKS TO SUJATHA FOR GIVING ME THE US MARKET IDEA. I DID SOME INTRADAY POST FOR DOW JONES, AND HAS SOME AMERICAN FRIENDS NOW. BUT DID NOT HAVE PROPER CHARTS. IF ANYONE OF YOU KNOW GOOD CHARTING SERVICE (FREE) FOR US MARKETS PLEASE LET ME KNOW.