Summary:

• In the month gone by, Index was up by 4%. After 4 months’ decline, Index has resumed upward movement. Each trading session in the previous week ended on a positive note
• With a strong upside move, Nifty RSI entered an overbought zone. The index will remain in a positive zone as far as sustaining above the 17800 level
• Index has very stiff resistance around the 18200 level. From a sector perspective, the CPSE sector is in a bullish continuation trend whereas realty is under a bullish reversal sign
• The IT sector is at a lower band of consolidation. ABCAPITAL and Alkem have given a decent positive breakout whereas Tata Steel is at a resistance level

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