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Ongoing oscillation within the range of 14800-14440 for the week would be concluded once the index registers a close outside its major bounds of 14960-14400. The occurrence of another ‘Inside Bar’ formation is another sign of retained strength amidst volatility with most of the momentum indicators remaining flat. Confluence zone of the two channels seems to have worked well as the recent rebound looked breaking above the ongoing declining channel formation. A breach above 14960 from hereon could push the index towards 15700 in no time as it could unlock a firm directional momentum play. As the odds remain in favour of the bulls, its ideal to retain the buy on declines strategy for investors & positional

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