MarketWrap : strong bounce..more upside seen

Regional N Europe strong on 1st day of Dec as banks rebound from ‘Dubai shock”. As usual, strong commodities also helped lift sentiment.

Market here mostly rebound mode trying to reverse Mon’s negative. Succeeded. Above 30SMA, reducing a pullback risk towards 30++ for another day while waiting for more +ve to push it back to a technically +ve area.- green area

For trading cautious remains, below 7SMA or 1270 but looks bottoming out if crosses above 7SMA, targeting the upper range of 60-90 band. Get ready to enter long again. Based on SMAs, the climb will be a slow one this week, until SMA crosses up.