The index open gap up just above daily Pivot point implicating a bullish day, It did found support at t daily S1 before reversing to uptrend to close at day’s high just below daily R2. The bullish tone printed a bullish candle with a short lower tails indicating substantial buying support. Yesterday, volume was quite low with retailers and local institutions were net buyers. Today volume traded improved from yesterday.
The index as expected has moved above 1475. Tomorrow I am expected the buying support to continue and it will able to close above the 5d MA unless there is negative factors emitting from US and Europe.
