The markets clearly seem to be on board the "Break-Out" express. Notice how 30500-30600 turned from a support to a resistance zone and again a support zone & likeways 30700-30800 from a near-term stop to immediate support – all in the course of a week.
As we move into June, we could see 31500, before the markets finally pause for a correction. Remain long / build longs at the current levels and on dips upto 30900 for the targets of 31400 – 31500 in the days to come.
This positive outlook will change to neutral only with a close below 30800.
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