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Breakdown below 18000 post the ‘Dark Cloud Cover’ formation could see an immediate drift towards17860level (20 Weeks EMA) below which the major support is placed around 17670 followed by its 200DEMAwhich is at 17480. Its trend strength indicators clearly compliment further weakness as RSI continuestoweaken as it drifts lower at 42 while ADX is trending well above 36; warranting weakness topersist. Onthehigher side the cluster of short term averages at 18260 (20 DEMA) followed by 18440 remainmajorhurdlesfor the month. For the day with OI PCR near to 0.70 its ideal t await for bounce backs to deployfurthershorts . Expect pullbacks to remain fragile until a decent reversal base is evident; until thenthesell onrisestrategy needs to be adhered.

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