The market opened at an unchanged level to previous closings but quickly established strong grip on frontline stocks
and has broken almost all the major barriers. It was difficult to surpass the level of 5090/17050 in a one successive
move but still the bull lobby has managed and closed the market into respected territory. However, the level of 5185
is still unconquered on closing basis and till the market remains below it we can not say that the market is out of
worries.
For the day we will focus on 5100/17100 and 5185/17365 levels. While looking at the recovery in the market on
Wednesday we can confidently say that the level of 5100 may act as a major support for the market and may invite
spectators to join the next move. However, on the higher side to break the level of 5185/17365 the market will require
some concrete reason. In case the market able to break the level 5185 then we may expect the level of 5230/17570 in
a short span of time. For the day our advice is to trade with levels and with patience.
