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Index well positioned to swing higher towards the upper end of its ‘Broadening formation’ which is placedaround17660.The immediate hurdle towards pattern target is currently placed around 17450 above which expect themomentumtointensify further. Amongst its trend strength indicators RSI continues to display strength as it trends well above55whileADX has been inching lower while its +DI has finally scaled above 25 mark which is also a mild positive sign. Optiondataindicates strong hurdle around 17500 mark while base could lift higher from 17000 to 17200 soon in the final daysofthemarch series. Yesterday’s anticipated closing has been above 17270 which looked like an ideal trigger to addfurtherlongs.Expect momentum to carry forward towards 17450-17660 zone during this week itself. Once a close above17270isre-established its better to trail your stops higher to 17130 for fresh long added.

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