Suprabhatam, Mitro!
I hope you're doing well & enjoying highly volatile markets. Yesterday was one such day in which market wiped out all the Gap Down loss in 1st 30 Min Candle, almost lost every gain and again gained to close near highs. 🫣
Yesterday's view held well. 17300-17350 support zone came into affect in 1st tick and market bounced sharply from this level. Sign of caution if there is another attempt to break this level today or tomorrow. Short term range for now 17300-17700. Let's see which sides gets broken first. With muted opening expected, 1st 30 mins again becomes important to decide the direction of further action. For Intraday, Buy above 17630 or Sell below 17500.
PSU Banks did decent push to this index. 38700 is proving to be good resistance. If manages to stay above this level, can do 39000-39200 in Intraday. Slight weakness below 38500. Overall range 37800-39400, which can make many uncomfortable. Let it break one side kn closing basis. For Intraday, Buy above 38900 or Sell below 38500.
Sectors to watch: Metals, Pharma & Energy.
Wishing you a profitable day ahead!