A breach below 17810 would result into a sharp decline towards 17660-17600 zone - Tradebulls Securities
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Trend strength indicators remain negatively placed on its higher time frame & do not support sustenance of a breakout move. The convergence of short term averages at 18000 could act as confirmation zone for the reversal; a close above 18030 would serve as a mandatory sign for confirming the revival at least on its daily scale. Key support for the week stands at 17660 (Broadening Support) which may emerge as an ideal zone for reviewing trend strength for a possible rebound while 18030 may serve as a resistance zone. Short term traders should adhere to long short opportunities until a clear bullish reversal pattern signs occur. A breach below 17810 would result into a sharp decline towards 17660-17600 zone & hence its ideal to remain cautious throughout the week.
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