Summary

• In the week gone by, Index was up by near to 2%. The index has closed above 18100 which is a bullish continuation sign
• Earlier at the same level, Index turned down twice. On a monthly closing basis, the Index has closed at an all-time high level
• The index will remain in a bullish zone as far as sustaining above the 17600 level
• On the higher side, the Index has resistance at the 18300 level followed by the 18600 level but in a positive structure, by nature, resistances are weak
• From a sector perspective, CPSE, Infra, metal, and PSU BANK doing well. The Pharma sector started to find positive traction
• This week, Mild underperformance was observed in Nifty bank, Auto, and FMCG. Midcap stocks are finding buying movement whereas small cap lacks strength

Resistance: 18300/18600

Support: 17800/17600

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