Markets opened on a positive note, but were unable to sustain higher levels which pulled the indices to close on
a flat note. On the daily charts, we are witnessing a doji formation which shows that supply and demand are
evenly balanced in the market. There are no apparent signs of weakness on the charts. On the upside if indices
trade convincingly above 17791 / 5311 levels then it is likely to test 17930 - 17990 / 5360 - 5380 levels. On the
downside 17630 – 17584 / 5255 – 5238 may act as support for the day. Stock specific activity mainly in Midcap
and Small cap is likely to continue.
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