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Post the latest perfect ‘Piercing line ‘pattern the occurrence of ‘Doji’ candlestick formation is a sign of lack of confidenceamidstbullishtraders. Both its trend strength indicators are placed well for further weakness. In addition, the immediate support basearound21830would be in danger with the ADX rising higher and the RSI below its 50 level. Options data for the final leg of the series indicatesfirmbounds at 22000 followed by 21800 while upside hurdles are well placed at 22300-22500 itself which would continue toact asasupplyzone. The ongoing bounce back looks temporary & may see further slippages beyond 21830 in the coming series. Henceitsidealtorefrain from building any aggressive positions during the expiry week. It is likely that the index may refrain fromfalling belowthesameduring the week & consolidate within the 22300-22000 zone before commencing its next bearish leg. Even for short terminvestorsitisadvisable to proceed cautiously with any pullback moves or to stop the buy on declines approach until a reversal formationisconfirmedon its weekly scale, as the index is exhibiting signs of a "Channel Pattern" breakdown on its weekly scale shortly. Slippages below22190would be a confirmatory sign of resumption of bearish momentum during the week

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