Big Picture:
- US-Iran war shows signs of de-escalation
- The US markets ended well in the green
- Brent crude around to $85 (not corrected as much though)
- Asian markets are a little bearish this morning
- CAS caused some chaos in the market yesterday
Positional
- 24,500 seems to be conquered by Nifty
- The bias has turned from rangebound to bullish
- Only caveat is of course the Orange man risk.
Intraday
- Today is Nifty’s weekly options expiry
- 24,500 should be defended if the breakout was real
- Bias would be to buy on dips
- PCR is really overbought so expect some selling pressure in the first half
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