The index has found support near 17300 and there seem to be a hesitation from the market participants to take the index above 17800 in the short term. We expect a decisive move giving directional clarity only if the index manages to close above 17860 or below 17440. Today being expiry, the index can remain range bound. Trading at the boundaries, expecting mean reversion can prove beneficial till the time the range is not broken decisively.
Important levels for the expiry are given below.
Bullish Above 17560
Possible Upside targets 17680/17712/17760
Bearish Below 17760
Possible Downside targets 17680/17620/17560/17513
Disclaimer:
The analysis provided is for educational purpose and the author does not assume any responsibility for the trades initiated based on the analysis. Consult your financial advisor before making any trades.
Important levels for the expiry are given below.
Bullish Above 17560
Possible Upside targets 17680/17712/17760
Bearish Below 17760
Possible Downside targets 17680/17620/17560/17513
Disclaimer:
The analysis provided is for educational purpose and the author does not assume any responsibility for the trades initiated based on the analysis. Consult your financial advisor before making any trades.
