Markets opened on a flat note, witnessed a rally in the first hour of the session which was short lived that led the
indices to close in red. On the daily charts the momentum oscillators viz. the RSI and the Stochastic are still
negatively poised. If indices trade below 17488 / 5235 levels then they are likely to test 17383 - 17244 / 5200 -
5160 levels. However, a bounce to 17604 – 17676 / 5270 – 5293 levels cannot be ruled out.
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