The Big Picture
- Crude oil prices behaving well (< $80)
- The market is waiting for the next big trigger
- The focus will shift to our internals (earning season in July)
Positional
- The bulls clearly want to take the market higher
- However, the bears are holding the ground at 24100-24150
- The broad texture is bullish (for positional; not intraday)
- Bears have not shown their cards yet to hard to say what they got
Intraday
- Today is Nifty’s weekly options expiry
- 24,150-24,200 will be the key resistance zone
- 23,950-24,000 will find buyers
- One shakeout of weak bulls seems to be on the cards
- If that happens in the first half, expect recovery in the second
- Else, the same lame price action as yesterday
