In term of the move, it is last on hour of move, coming on expiry, one ideally would like to see the follow through on the next day. This time is no different.
On the Daily, if not classical, it looks like follow three, exception being the large lower wick.
In both the cases, C clamp is visible, suggesting a rather sluggish move but still over laps the previous energy cycles to continue.
Not much on the data front, weekend, truncated week ahead, markets would like to play the decay than a sharp ascent or descent.
having said that a close above 48300 augurs well for this space and possibly we might be looking at the channel upper end than otherwise, similar trend unfolded in the month of March.
The ping pong range will continue, it will frustrate some, some will enjoy the range as long as it lasts.
Near term 47700 break and close, unlikely will frustrate the bulls
47800-48400 range is ideal for the day to start.
On the Daily, if not classical, it looks like follow three, exception being the large lower wick.
In both the cases, C clamp is visible, suggesting a rather sluggish move but still over laps the previous energy cycles to continue.
Not much on the data front, weekend, truncated week ahead, markets would like to play the decay than a sharp ascent or descent.
having said that a close above 48300 augurs well for this space and possibly we might be looking at the channel upper end than otherwise, similar trend unfolded in the month of March.
The ping pong range will continue, it will frustrate some, some will enjoy the range as long as it lasts.
Near term 47700 break and close, unlikely will frustrate the bulls
47800-48400 range is ideal for the day to start.
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