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Nifty

Post a stellar upmove towards 18100 from the base of 17000 the trend momentum looks exhausting. Occurrenceof anegative divergence on its 60 min scale near the resistance zone of 18200-18350 is a cautious sign. With theGAPsupportinplace the upcoming move could be a mere pullback towards the GAP support zone placed around 17800 initially. Optiondata for the week indicates 18000 to remain a fragile support zone & any slippages below would result intoafallbacktowards 17800 or 17600 zone. Hence its ideal to avoid leverage positions during this pullback zone while exitinglongscouldbe held with a stop below 17770 on a closing basis. We expect sector rotation to remain robust & chasing stockspecificmoves to be prudent for the next few sessions

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