Summary:
With 3 months’ time-wise correction and 9% price-wise correction, Index reached support of 17300 level.
Index had a strong rebound from mentioned support level indicating the presence of a buyer.
Moving above the 17600 level will be a further positive sign, it will open up the upside potential up to the 17800 to 18000 level.
Index seems to have formed a base at 17300 level.
From a sector perspective, financial stocks are taking lead whereas the IT sector is in make or break situation.
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