Major Cues:
- US-Iran war continues
- Brent crude stays elevated at $96 per barrel
- US markets were bullish last night
- Asian markets are mixed this morning
- Today is Sensex’s weekly options expiry
Positional
The beauty of market is that you learn more when you’re wrong. Yesterday, a key level (24k) was broken on a closing basis which typically would have triggered a sell-off. Instead, the market refused to break down. If nothing else that tells a trader to take a pause and see what the market really wants to do next. In other words, something is cooking and we have no idea what that is.
Intraday
- We are opening with a gap up right in the resistance zone
- If the market overcomes that zone a stronger short covering can get triggered
- Else yesterday’s low would be a good support to work with
- Watchout for Sensex’s expiry related volatility
- CAS will add to the trouble, especially in the 2nd half
Track realtime market vitals at: Market Pulse — Real-Time Market Analysis Dashboard | VRD Nation
