Key Theme: Market Stays in a Narrow Range

Recent movements confirm that the market remains in a range-bound phase between 3250-3380, with current prices moving from the lower to the upper boundary. No clear trend has emerged.

Highlights and Observations

  1. Domestic and Global Developments
    • Global Markets: U.S. stocks and major commodities closed higher, signaling positive sentiment internationally.
    • Domestic Boost: The National Fiscal Work Conference has brought potential positives for the domestic market, though the full impact is yet to materialize.
  2. Market Sentiment
    • Despite external and internal factors suggesting support, current price action remains muted, highlighting limited momentum in the short term.

Strategy and Outlook

  • Short-Term View: The market is likely to remain range-bound, with upside capped near 3380.
  • Trading Advice: Adopting a wait-and-see approach is prudent at this stage.
    • Opening positions now offers limited profit potential while exposing traders to unnecessary risk and emotional strain.

Conclusion

Patience is essential in the current environment. Allow the market to show clearer opportunities before taking action, as this phase may serve as a setup for better trading scenarios ahead.

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