In accordance to our predicted levels of support of 17454 and 17360, we can clearly witness how the Index has been unable to break the aforementioned levels, on a closing basis, for the last 2 consecutive trading days, and in fact have shown a good bounce back therefrom. Hence, depicting the importance of the stated levels.
On the other hand, as a matter of concern, it’ll be suggested to follow the Sell on Rise strategy and to stay stock specific, until we witness a healthy closing of above 17650.
Just as we have been stating, and similarly we are still with our words that the Market is somehow being expected to stay in a consolidation mode, till the month of December. So, it will be suggested to stay Stock Specific. Moreover, on the downside, the level of 17360 will still be considered as a crucial level of support.
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