As per our earlier discussion, a move above 2905-2910 may see the possibility of 2950-2960. Upon reaching that level, we have seen some tussling going on. By Friday, the Bulls managed to push the FSSTI higher, to reach its weekly high of 2980 (10 more points to close the daily gap of 2950-2990), and closed at 2978.
Moving forward, the corporate earnings report may be in play.
Attached below is the weekly chart of FSSTI. As shown on the weekly chart, a move below the lower bound of Uptrend Andrew's Pitchfork may signal the possibility of a further pullback/retracement. To me, at this stage, the most prudent way to ride the market upwards is to move the protective stop order.
