Buyers Are Back
A tremendous upmove has been seen since the first 30 minutes of trading. Both the SPH and the NDH are rallying on the heels of failing to break.
From here I would expect the trade to make a serious effort to get above yesterday’s high of 1325.50. I have strong resistance between 1325 and 1328 — if this is exceeded look for more upside, potentially towards the 1340 area.
If the NDH continues its move, 2450 is the first target, followed by a move to 2500.
What has been impressive to me is the quality of the buying I have seen from the institutions as the players have been rather aggressive in trying to take in the sellers.