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Strong rebound from its 20 DEMA support around 21850 helped the index display a confident close above 22200 resistance zone. It maintained its bullish sequence of closing the day above its 5 DEMA support level of 22100 which remains an immediate demand zone. Since both its trend strength indicators remain diverging with RSI trending higher around its 60 while ADX is yet to cross its 20 level; their respective placement indicates lack of conviction in directional strength as of now. Option data continues to highlight 22000 as an immediate strong support zone followed by 21800. On the flip side unwinding above 22200 would push the index immediately towards 22400-22500 zone. Since India VIX (Volatility /Fear Index) still remains confined within 16 level (its 200 WEMA level) & 14.70 (its 5 WEMA); this consolidation is a sign for traders to avoid leverage positions on either side & wait for a decisive range breakout to deploy directional positions. Outlook still remains neutral to cautious as sector rotational move would attract further rise in volatility

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