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Intraday: Bullish
Technical Analysis
Preference:
A Buy is in order if prices trade above 42.50 with take profit at 43.15.
Alternative scenario:
Sell is in order if price trades below 41.89 with take profit at 41.40.
Fundamentals:
No major economic data with a direct bearing to this index
Comment: With the seeming ease on the ban on international flights, it is expected to push sentiments on Oil. The instrument is expected to start its gradual climb to the 50s region. Oil has also enjoyed a sort of renaissance in the last set of weeks and this latest relaxation of international flights on the 1st of July would boost demand.
Analysis: SCRUM Team
