Market prices in things which are not very near but a bit far away as well. Many possibilities are factored in the price. Something there are times when does factor in few things.
IMO, its a good indicator
as far as yesterday is concerned
chart (eod chart of 18.10) was clearly indicating a gap up open with open = high (ie a slip from open possible)
Watching this level carefully. If bulls can absorb all the selling coming here and take out 8730 then we are good for more upmove....else below 8705 will exit the long positions taken in the morning...
Smart_trade
EDIT : Read 8705 instead of 8605 as it was a typo.