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A ‘Doji’ near the confluence zone is a sign of caution but the placement of its momentum indicators warrants towards continuity of the ongoing bullish trend. RSI has breached above its long declining trend (as depicted in the chart above) while ADX has slipped below 30 with its +DI getting ready to take the lead. Options data for the next weekly expiry now stands at 17000-18000 as of now with strong support at 17000 itself. A breach above 17660 would amplify momentum & shift the bound support towards 17300-17500 immediately. We continue to build longs as intermediate degree indicators too now turning in favour of the bulls; its ideal to retain buy on declines strategy across various timeframes with a momentum stop below 16930 & a trend stop below 16780 WCLBs (Weekly closing ). Aggressive longs to be deployed once the index confidently trends above 17660 for fresh life high expectations.

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