As discussed yesterday, buying the dip was really fruitful.
Global Cues - The hopes of a stimulus are slowly fading away with about a fortnight left for the elections. Dow has retested it's 28000-28100 low and bounced back. Another strong decline can prove to be lethal with the volatility set to increase.
Clear consolidation in the second half without much decline from the top shows the strength of the market. A huge move is possible after 24450 for about a clear 200-300 points as that region lacks any significant resistance.
Scenario's for tomorrow -
Gap Up - Key level to watch would be 24400
Flat - Opening in the no trade zone (mentioned on the 5 min chart)
Gap Down - 24100 will act as a strong support
Expecting a sideways market for tomorrow.
Happy Trading!
Shubh Navratri!
Global Cues - The hopes of a stimulus are slowly fading away with about a fortnight left for the elections. Dow has retested it's 28000-28100 low and bounced back. Another strong decline can prove to be lethal with the volatility set to increase.
Clear consolidation in the second half without much decline from the top shows the strength of the market. A huge move is possible after 24450 for about a clear 200-300 points as that region lacks any significant resistance.
Scenario's for tomorrow -
Gap Up - Key level to watch would be 24400
Flat - Opening in the no trade zone (mentioned on the 5 min chart)
Gap Down - 24100 will act as a strong support
Expecting a sideways market for tomorrow.
Happy Trading!
Shubh Navratri!