Positive start to the day aided by positive global cues and OI in Nifty futures in the morning session @ 26.2 odd million and 1 million added after Europe open. VIX cooled down and stayed around 26 which is a respite for bulls. There is liquidity and a lot of optimism in the markets right now.
Critical levels and outlook remain unchanged; tomorrow's close will be crucial as it marks the monthly close candle. Also the critical band of 5177-5196 are expected to hold out tomorrow in case of a sharp profit booking session; whether it holds out on Thursday will be interesting to observe as it has the potential to set the floor for both bulls and bears for another 2 weeks [following 2-3-5-8-13-21-34-55 sequence] Today is the 33rd consecutive close above 5177-5196 band.
I am very lazy to draw charts and then paste them unlike my seniors and comrades [typing comes more easily to me!] For a change, an illustration from my end [the box comments are self explanatory]
Critical levels and outlook remain unchanged; tomorrow's close will be crucial as it marks the monthly close candle. Also the critical band of 5177-5196 are expected to hold out tomorrow in case of a sharp profit booking session; whether it holds out on Thursday will be interesting to observe as it has the potential to set the floor for both bulls and bears for another 2 weeks [following 2-3-5-8-13-21-34-55 sequence] Today is the 33rd consecutive close above 5177-5196 band.
I am very lazy to draw charts and then paste them unlike my seniors and comrades [typing comes more easily to me!] For a change, an illustration from my end [the box comments are self explanatory]
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