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Index achieved one of its pattern target (17170) in time & it did witness minor profit booking near the same which was attributed towards rotation of strength within sectors as it continued to march forward towards 17400. But there is no sign of any reversal formation on its daily scale & a sustained breach above 17260 would trigger the next leg of momentum towards 17440-17600 cluster for the month. With both its oscillators quoting in their respective overbought zones with no traces of divergence in strength or weakness. Trading base now been elevated higher towards 17040 from 16680 which now could act as a trading stop for momentum longs. Pattern targets on the higher side remain intact around 17600 (Upper end of rising Channel) which remain valid until 16680 holds for the coming weeks ahead.

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