As planned yesterday, for a flat opening, it tested the support (21300) and we got a good trade of around 150 points
Later, it entered the range and stayed there till the end of the trading session
On the 5 min chart, a clear uptrend was formed since 10am. It got respected, till the end of the day
In the 15 min chart, we even got the break from the downtrend.
On the 1 hour chart, we can clearly see a wedge pattern forming, which means a strong uptrend once 21800 is cleared.
Dow Jones has made a stellar recovery after retesting it's support and will also help us to recover.
SGX Nifty is trading a lot higher and we can expect a gap up opening tomorrow.
Scenario's - 1) Tomorrow being expiry and the last trading day of this week, expecting the first half to be sober and simple with a continuation of a range bound market Then, in the second half we will decide a trend for Monday. Expecting to follow the global markets and maintaining a positive bias
2) Oct 5th is the moratorium hearing by the Supreme court and hence wouldn't suggest any positional trades for monday.