Markets displayed range bound activity, leading the indices to close on a flat note. On the daily chart, we are
witnessing narrow range body for second consecutive trading session, which clearly indicates indecisiveness
prevailing at current levels. On the upside if indices trade convincingly above 17640 / 5280 level then it is likely
to test 17730 – 17800 / 5300 – 5330 levels .On the downside indices have support at 17400 – 17327 / 5200 –
5170 levels.
Traders are advised to exit their long positions if indices breach 17276 / 5170 levels.
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