BN traded in a small range today, opened at 38298 and closed at 38277. The move in BN today was quite unusual considering the intraday swings we have seen on each day last 1 week. Personally i was thinking markets may trade with a bearish bias esp when the US markets fell last 2 days. Also the US CPI inflation data is expected today.
Even though the range traded today was very small, the OTM PE and CE options were trading with high IV occasionally shooting the premiums. Most likely the trade tomorrow might be directional as BN failed to get a bias today.
5mts candle for the past few days showing a consolidation pattern near the interim top.
1hr pattern shows a bullish tone and higher high formations.
Important support and resistance points
s1: 37947, s2: 37248
r1: 38691, r2: 39324
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