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The rebound back towards 17400 zone has been swift & immediate but a close above 17440 is significant torevisestopshigher. A crucial hurdle stands at 17600 zone itself for the series. The inside bar did provide the insights for aconfidenttrend reversal towards 17600 but the directional momentum upmove shall unlock once a weekly close is alsoestablishedabove the same. With its RSI rebounding towards 50 & yet to register a positive crossover with ADX still decliningbelow25is a mixed bag of emotions. Hence its ideal to retain longs with a stop only below 16920 on a closing basis &utilisedeclinesif any to add longs, leverage on the other hand should be deployed only once a close above 17600 is establishedduringthismonth as we move closer towards the expiry week. Results calendar moves would keep the volatility high alongwithglobalmarket triggers hence embracing volatility would be the key to participate stock specific moves without hesitationastheindex is expected to continue its oscillation within the broad range of 17600-17000 in the final legs of the series. Sinceyesterdays closing looks promising, redeployment of leverage longs with a stop below 16920 would be advisedwhileasustainable close above 17440 would further strengthen the bullish trend.

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