Big Picture:
- The US markets we mostly flat/mildly negative
- Asian markets are trading with a mild bearish bias
- No major cues to react to
- Quarterly earning season is around the corner
Positional
- 23800 and 24200 are the two key support/resistance zones
- Any decisive breakout either way will lead to expansion in that direction
- The bias is on the bullish side
- But the breakouts usually happen when we least expect them
Intraday
- Today is Sensex’s weekly options expiry
- We are opening close to the resistance zone (of 24200)
- The game usually plays out is first a pushback from the resistances
- Then from the lower level, bulls have to show what they got
- Will the bulls take that dip and make the bears eat crow…?
*… or will they just mess around on account of expiry…let’s see!
Track realtime market vitals at: Market Pulse — Real-Time Market Analysis Dashboard | VRD Nation
