• Form the past 6 weeks moving higher.
• In this week Index has moved by near to 1%.
• Sector-wise IT Sector has given breakout on the higher side and underperformance observed in banking stocks.
• The index is in a positive zone as far as the Index sustains above 15600 levels in the very short term.
• On the higher side, based on Fibonacci extension Index gas resistance at 15850 levels and 16000 to 16200 range.