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Back-to-Back occurrence of Doji candlestick formations trending above its short-term averages could be a sign of fatigue but not areversal. Occurrence of such formations near the anticipated resistance cluster of 19430-19560 is a sign of caution for momentumtraders. The ongoing gap sequence has so far witnessed a ‘Break Away Gap’ & a ‘Run Away Gap’ followed by yet another Gapwhichcanbe termed as an ‘Exhaustion Gap’ only once the index falls below the 19220-zone distorting the ongoing bullish momentum. Withbothits trend strength indicators trending higher complimenting the ongoing uptrend; its RSI entering its overbought zone couldnot beignored. Hence traders should retain longs with an acceptable stop loss & only add further once the breakout above 19560is set. Ontheabsolute price scale, we believe that the ongoing move would see a pause towards 19430-19560 during the first leg of theJulyseriesitself. While the support base at 19220 could be an ideal threshold below which momentum-based stop loss could be maintainedasofnow

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