As I have been stating, Buying on every dip is the only way to go.
The momentum in the market is very strong and there is no signs
of any correction.
The immediate support is at 8780. If you want to keep smaller stop loss,
it would come at 8750.
Now that the market has now got into short covering mode. As long as
8900 can be held, the short covering will intensify and take the market
towards 8950-9000 levels.
9000 is a psychological resistance level. If market can break it and sustain,
market can even move towards 9150-9200 levels.
For Jan series 9000 calls have highest open interest, so the call writers may
try their level best to get expiry below 9000 levels.
If market can sustain above 9000 and close above it, then for this series
itself, we can see short covering rally towards 9150-9200.
The momentum in the market is very strong and there is no signs
of any correction.
The immediate support is at 8780. If you want to keep smaller stop loss,
it would come at 8750.
Now that the market has now got into short covering mode. As long as
8900 can be held, the short covering will intensify and take the market
towards 8950-9000 levels.
9000 is a psychological resistance level. If market can break it and sustain,
market can even move towards 9150-9200 levels.
For Jan series 9000 calls have highest open interest, so the call writers may
try their level best to get expiry below 9000 levels.
If market can sustain above 9000 and close above it, then for this series
itself, we can see short covering rally towards 9150-9200.
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