Today’s expiry was the most sweating & I would say brutal for buyers on both sides. There were just single candle luring moves without follow up resulting in SL hittting. Now let’s talk about possibility. Whats in it tomorrow?
Let’s analyze it. We are in mid of a tight range . 42500 higher side & 42200 then 41900 are crucial levels. Last 2 expiries these levels have been protected strongly. Some Big Fish is eyeing these levels for monthly expiry it seems and he is protecting it like Baahubali ! It would be interesting to see if any Katappa comes in tomorrow and does the damage on either levels. I was bullish today considering Dow Fall last night. If global sentiments remain -ve, we might have a breakdown on Monday since there wouldn’t be a much pre Dow data in first half for directolional move. Alternatively, If we cross 42500 with volume & stay above for 1 hour, we may have firecrackers by Bulls suddenly. This possibility looks little difficult the way Bears are defending uppper zone!
Let Time Decide, stay alert while trading in both these zones & refrain taking aggressive positions unless clear direction available.