morning thoughts...

We concluded August series on a beautiful note with markets following the same pattern as illustrated

We begin the adventurous new september series today with to and fray pattern in index in coming sessions and multiple opportunities in wave 3 sectors and stocks

Sectoral shifts and stock specific actions will continue in the markets 

Technically the straddle to and fro pattern is now confirmed for index and it will not be surprising if it escalates in few sessions

It continues to hover at critical zones of 9700-9900 with major supports at 9690 and resistance at 9990 and 10050 whereas bank nifty finds supports at 24050 and resistance at 24700 levels

The sectors which stays in favour are steel , oil and gas and selected banking

Commodity markets are trading in a range from many months and the period of consolidation will continue within few moves in bullions , base metals and energy up and down with the strategy to buy on dips