Op – Low Gap down opening even below 20DSMA <38180>around 37950 then almost 600 points instant pull back upto 38570 then correction upto 38183 i.e. just upto 20DMA but actually after taking support from there & slight consolidation smart bullish recovery as a next stage & crossed morning high above 38600 moved upto expected resistance area 38888 – closed at 38700.
Day to Day basis up 400 points made a bullish engulfing candles supported by 20DSMA 38165.
5DSMA = 39050.
Therefore, after yesterday’s big momentum fixed up a range –on the upside 39000/39100 & down side 38200/38000.
On the Upside :- Above 38888 expected Resistances are 39060—39250--39440. Fresh bullish move above 39800.
On the down side :- Sup 38500/38400 & then 38200. Major 37950. Very major 37600.
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