CONSOLIDATION DAY

Markets on cue started selling the Gap up (4950)implying that participants preferred booking profits and getting in again on dips..it almost halted at Monthly S/R..(now area to watch) 4780 is a strong trendline support zone of the market from the lows..Cross this time of 4950 will take us straight to 5030 zone..enjoy the day cheers..

POSITIVE AHEAD

Markets will party today due to DOW 13 months High made last night..Well yesterdays DATA of OI suggests huge OI increase in 4700-4900 puts implying the upmove further as CALLS OI have been shed..resistance can be in the zone of 4950-4970 for the time being with a possible target of 5030 whenever this threshold is crossed...keep booking your longs & buy in dips..supports lie in the zone of 4860 the MONTHLY S/R..Trade accordingly..cheers.