The index is poised to open higher at least by 30 points as indicated by the future.
This would mark a positive follow through after the Friday’s inverted bullish hammer at 200-DMA support.
However, that by itself is not enough to signal trend reversal. Moreover, the index needs to close above 2120 (ex- strong support, now resistance) to signal bearish invalidation, else a revisit to 200-DMA cannot be ruled out.
This would mark a positive follow through after the Friday’s inverted bullish hammer at 200-DMA support.
However, that by itself is not enough to signal trend reversal. Moreover, the index needs to close above 2120 (ex- strong support, now resistance) to signal bearish invalidation, else a revisit to 200-DMA cannot be ruled out.
