Markets opened higher, rallied beyond the multiple resistance of 17361 / 5182 but was unable to close above it
.Apparently looking at the positive placement of the momentum indicators viz. RSI and the Stochastic on the
daily chart suggest further upside. In the coming trading session, if indices trade above 17414 / 5200 levels
then they are likely to test 17540 – 17620 / 5240 – 5300 levels. However on the downside, 17200 – 17110 /
5130 – 5100 levels may act as support for the day. Traders who are long at lower levels are advised to book
profits near 17620 / 5300 levels.
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