Big Picture:
- US-Iran war escalated again
- Overnight, the US markets were weak
- Brent crude is around $83 (moved up 5%)
- Asian markets are mixed
- CAS has made expiry day trading much harder
Positional
- 24,500 seems to be conquered by Nifty
- The bias has turned from rangebound to bullish
- However, the breakout did not come with any momemtum
- A breakout without momentum is like a party without music
- Not sure how long it can sustain
Intraday
- There will be an overhang of the higher crude oil prices
- 24,500 would be the support to look out for
- Otherwise, it’s all hazy out there
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