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Bullish Marubozu’ candlestick formation reaffirmed the 0-2 trendline base around 19500 to remain firm even in the short term. While the anticipated resistance level around 19840 could see a firm breakout soon which would push the index towards the key Gap resistance zone around 20100. Trading base has now been elevated higher towards 19540 from 19440 which now could act as a trading stop for momentum longs. Options data too concludes that the 19700 remains confidently held while upside range has shifted towards 20000-20100 for the upcoming week. Leverage longs could be held until 19540 is not breached from hereon while further aggressive additions to be considered even on declines which could be reviewed once the index trends around 20100 zone.

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