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Occurrence on a ‘Bullish Hammer’ formation on its daily scale near the breakout zone of the ongoing declining channel rangeisagood sign of revival in strength. The index again registered firm close above its 5 & 20-days EMA. In case of sustenance above the same expect the index to scale towards 19840 level quickly. Only a breakout above 19840 price gets established the index would confirm reactivation of its bullish trend momentum; until then we continue to remain cautious & advice adequateh edge for any exiting long position. An affirmative close above 19630 is an early sign of shift in sentiment which could eventually lead to a break out above 19840. Hence traders could opt to chase momentum once 19630 is breached during the current weekitself.On the flip side only a consecutive close below 19430 would violate the anticipated-up move expectations

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