Major Cues:
- US-Iran squabble continues
- Brent crude trading around $90
- US markets were bearish last night
- Asian markets are also bearish this morning
- Monthly auto sales numbers to come today (watchout)
- Nifty’s weekly option expiry
Positional
- Same view continues
- We are in a listless market that has no intent to make a directional move
- On the downside, 23850-24000 is the only zone that can protect the bulls
- The problem is that there’s no good news coming from any direction
Intraday
- The negativity has been slowly building over the last week
- But 24k has been a strong wall for the bulls
- If that’s taken out this morning, all bets are off
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