Bulls are in strong position. 12280-12300 likely target.

Bulls in full action today.
As mentioned in last update, after forming Bullish Harami Candle pattern, today bulls are in a position to lift index further higher levels.
First swing high 12230 has taken out successfully by Bulls. Now, short covering rally can be expected as long as index trades above this swing high. Next upside direction would be towards 12280-12300.
Hence, every intraday dips can be bought into by Bulls.
Avoid short selling today.
Technical indicators clearly showing that upside momentum has builtup in market and it likely to continue.
Supports comes in gap area 12130-12045.
Market breadth also indicating strong Bullishness today.

Suryadev Bandari
Research Analyst

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