Markets were unable to sustain higher levels, despite having a gap up opening. On the daily charts, we are
witnessing a range bound activity and there is no clear pattern that suggests a trend. On the upside if indices
trade convincingly above 17777 / 5287 levels then it is likely to test 17880 – 17980 / 5315 – 5343levels. On the
downside 17500 – 17322 / 5200 – 5160 may act as support for the day.
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