Summary:

• The index has lowered its pace as it was up by 0.34% and entered into a stiff resistance band on the weekly chart after a 2750 gain in 9 weeks. From a global market perspective, indices are at a resistance level after the decent rally.
• The dollar index and 10-year US yield have given a breakout on the higher side, it has negative correction with the equity index on a broader scale.
• Moving below the 17700 level will show further weakness followed by 17500 and 17200 levels. On the higher side, resistance at 18000 followed by 18100.

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