Mondays Auction flipped the trading sentiment back into the positive mode. Trading sentiment to turned on the positive side. Though the opening confidence was lackluster went sideways and trading inside the previous days range in the first half of trading session. Second session broken the previous day high with a greater confidence and maintained the confidence throughout the day forming a back to back secured low.
Current week low is likely to form interesting support zone. However yesterdays profile left a poor structure with spike formation. Short term supports available at 10100 levels. As long as value builds above 10040-10100 band the trading bias holds positive in very short term.
Still two more days left for the expiry. 10000PE and 10100PE writers showed increased confidence right from the start of the day. Global market sentiment too turned positive atleast Friday bearishness is out of the system. Possibilities of expiry above 10100 for this series as long as the spike base gets protected.
