** PLEASE NOTE THAT ALL LEVELS MENTIONED ARE SPOT **
The index took support @ 31000 on two consecutive sessions and has rallied to a critical resistance @ 31800. A gap-up opening above 31800, sustenance above it, will lead to a continuation of the Bull Run, although Stochastics seems to be at an overbought zone. It was interesting to note, today, that the market ignored a weakening Rupee & an increase in VIX completely. Anyhow, a breakout above 31800 or a break down below 31500 will give way to further momentum.
All the levels are mentioned in the chart.
DISCLAIMER: This is not a channel to provide calls/tips. The objective here is to gauge the sentiments of the underlying. The analyses are purely speculative and the author may or may not have an open position in the underlying. They should be best used in conjunction with the viewers’ own analysis and/or in consultation with one’s financial adviser.
The index took support @ 31000 on two consecutive sessions and has rallied to a critical resistance @ 31800. A gap-up opening above 31800, sustenance above it, will lead to a continuation of the Bull Run, although Stochastics seems to be at an overbought zone. It was interesting to note, today, that the market ignored a weakening Rupee & an increase in VIX completely. Anyhow, a breakout above 31800 or a break down below 31500 will give way to further momentum.
All the levels are mentioned in the chart.
DISCLAIMER: This is not a channel to provide calls/tips. The objective here is to gauge the sentiments of the underlying. The analyses are purely speculative and the author may or may not have an open position in the underlying. They should be best used in conjunction with the viewers’ own analysis and/or in consultation with one’s financial adviser.
