34034 support held, and market went into rotation
between 34220 - 34800. Looks like market may
be building a bullish cause so that it can return into
the upward channel.
Play scenarios:
1) Rotational play between 34220 - 34800
2) Breakout long play if confluence of 34800 +
return into channel is supported.
3) Test of 3343 play - breakdown and resisted at 34220 bottom
of rotation and market may test 33433
Price reaction levels
Short on Test and Reject | Long on Test and Accept
36446 35750 35330
34800 34367 34220
33427 32492 32167
Weekly: Low vol up bar closing off high =
No demand weakness
Daily: Low vol up bar closing off high, narrower
spread bar on same effort = weakness
H4: Ultra high vol upthrust bar closing below
rotational resistance 22800, followed by up bar
= some strength.
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Have a profitable week ahead.
