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Pullback towards the confluence of supports is yet to see any signs of reversal. With both the trend strengthindicatorsnowturning neutral it’s an early sign of upcoming either side directional momentum play soon. We maintain our stancetorefrain from aggressive leverage long positions which could be deployed once both the indicators turn positive&areinsyncwith ongoing larger degree bullish trend. A breakout above 18000 remains the immediate requisite for redeploymentofleverage longs. Until then it’s ideal to refrain from aggressive positions until the index rests within 17400-18000band. Option cluster for the day stand at 17700-17400 itself with no major shifts while PCR now at 0.74 the readingsuggestsanoversold state apt for a rebound towards the upper end. Trading longs for the day should be considered ondeclinesasoption pain zone stands at 17600-17650 itself.

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