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The index continues to oscillate within the ongoing channel pattern formation with its upper end placed around 22990-23040 zone. Even yesterday the index scaled higher & displayed a confident close above 22620 hurdle to reassure the uptrend to continue towards 22990- 23040 zone during the early part of this series itself. Both its trend strength indicators remain complimentary as ADX continued to slip lower towards 21 while RSI trends higher at 59. The immediate base is also elevated towards 22400 hence trailing stop should be now placed around 22360 while holding trading longs. Traders are advised to remain selective while deploying any either side trades until the index continues its movement within the 23000-22000 zone with 22500 being the midpoint of this range. Leverage positions could be avoided for time being until clarity emerges even on its daily scale.

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