Ahead of the long weekend, Friday's trading action may likely be a narrow-range choppy day. Whether it is going to be a narrow-range trending day or a narrow-range choppy sideways consolidation day depends where the market trade in relation to Friday's key price level.
I will use 2320 as key S/R level for Friday.
- Above 2320 short-covering should continue, targeting 233- to 2340 area.
- Below 2320 implies profit-taking consolidation targeting 2300 to 2295