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Nifty

Index has retained its bullish sequence since the beginning of this month as it registered consecutive closing above its 5 & 20 DEMA. But the recent gap down close on Friday with loss in momentum looks like a confirmator ysign of resistance around the 18200-18000 zone. Both its indicators on its daily scale too remain diverging as RSI retains its strength above 51 but ADX is yet to showcase any signs of strength despite the ongoing upmove. Asthe index enters the final stage of the February series expiry a decisive break of the range outside18180-17770 would be mandatory to gauge the next impending move for the upcoming series. Its ideal to remain cautious while building longs while trend stop is to be placed at 17770. Weakness below 17770 would be a confirmatory sign to build aggressive shorts which could be rolled

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