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Immediate requisite for unlocking the directional momentum play is a sustained closing above 15040 which remains a key breakout zone on its weekly scale. Option data indicates a wide range 15500-14000 for the month with 15000 being an intermediate resistance zone; on the flip side 14300-14000 PE OI congestion augurs well as support cluster for the series. Technically, a decisive break above 15040 would confirm the move towards the Channel pattern target towards 15400 followed by 15700 in the months to come. Hence the strategy remains intact as the odds remain in favour of the investors, its ideal to retain the buy on declines strategy for investors & positional traders

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