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‘Spinning Top’ formation concealed within the range of its previous days trading range is a goodsignof consolidation. The index is expected to oscillate within the range of 18250-17780 going forwarduntil aclearrange breakout is evident on its weekly scale. The cool off in its trend strength indicators warrant consolidationtopullback within the ongoing broader range to continue. Either side range breakout would be expectedtodayoutside the 18180-18060 immediate range which could build further momentum for the day. Major weaknesswould be witnessed once the index breaksdown below the 17780 level. Until then short termtraders toremainextra vigilant while deploying long short positions while the index continues its oscillation mode withinthebroadrange of 18250-17780.

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