Nifty bulls make inroads in the last two hours, despite the holiday break, sign of confidence. The turn off events, softer dollar, higher global equities (despite the mid term elections and CPI numbers), tad not rising rates and lastly Crude remaining within the ranges. Looks all good to the EM despite no China opening. Commodity currencies rally which is the early signs and thus should help here today too. 18255 weekly close is first target next is 18358 that marks the life highs on this periodic basis. ATH remains 18600 plus one move. Notable aspects of this move remains higher base which shifts to 18030. Continue to focus on upside as many indexes reflecting a probe first approach. Event risks abound but higher base allows this tactic play in place. Supports 18150-18080-18080, supply 18260-18300-31-18350. Play 18150-18350 range.
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