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The price sequence of Narrow ranged bodies continued throughout the week but Fridays selling pressure didpushtheindexbelow its 5 DEMA support of 18320. Its trend strength indicators are now a bit diverging as RSI remains flat around64whileADX continues to drop towards its 30 mark which is a sign of caution or divergence. The ongoing sequenceof gapsisyettowitness an ‘Exhaustion Gap’; which could eventually establish or confirm a probable top. On the broader scaleareatheongoing ‘Broadening Pattern formation’ resistance zone around 18400-18460 remains a supply zone henceleveragepositions should be avoided. Though we are yet to witness any distortion or diverging signals within the ongoingtrenditsideal to remain cautious once around 18300-18460 zone where booking profits could be healthy, but avoidinganyfreshleverage on either side should be one’s priority. Hence its ideal to maintain existing non leverage long positionswithatrailing stop loss at 18130. While 17880 could be considered as a yardstick level to gauge any suddenbreakdownsorreversal trends if they unfold during this month.

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