Market has entered overheated territory and there lies double resistance at 38000 +/-100 Points. Usually double resistance are very difficult to break, therefore we expect correction to set in here with initial support range between 37200 - 36800.
On the upper side, break above the 38000 +/-100 point double resistance means the bulls have gone wild and index will take a wild ride along it. This means that either speculative buyers are pushing the index or short-sellers stop-loss is hit and and triggered aggressive short covering wave.
Maintain your trailing stop loss for profit taking and we wish you a happy profitable trading!
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