Gap Up Opening above 47500:
If the price opens above 47500 and maintains levels around 47450 – 47440, consider a long trade with a stop loss at 47300. Target levels are 47716 – 47777, with a possible sideways movement upon reaching these levels. A sustained move beyond 47800 could lead to an upward surge towards 48258.
Should prices fail to hold above 47440 and drop below 47400, a short trade is advisable targeting 47170 – 47079 with a stop loss at 47460.
Flat Opening:
On a flat opening, consider a long trade around 47150 with a stop loss at 47000, targeting 47450. Sustained trading above 47500 may push prices towards 47716 – 47800.
If prices decline below 47000, look for a buying opportunity near 46900 with a stop loss at 46800, targeting 47450 – 47500.
Gap Down Opening below 47100:
In the event of a gap down opening, initiate a buy trade with a stop loss at 46891 and targets at 47200 – 47446 – 47500. A breakthrough above 47500 could lead to further gains towards 47750 – 47800.
If prices face resistance near 46900 after dropping below 47850, consider a short trade targeting 46496 with a stop loss at 46950.
In the current bullish trend, it's advisable to favour long side trades or capitalize on breakout moves. Selling on rallies is discouraged unless prices sustain below 46500.