Summary:

• On a week-on-week basis, Index was up by 1.66%. From the strategic index, Small cap outperformed this week but a longer trajectory favours midcap.
• On a line chart basis, the Index has given a breakout above the previous peak point, it can be considered a bullish continuation sign.
• The index has a bullish zone up to the 17500 level. On the higher side, the Index has resistance in the range of 18200 to 18300.
• The index has intermediate resistance at the 18000 level. Due to positive structure, resistance levels are fragile.
• Financial services stocks are a torch bearer for the recent upside move. Underlying tine for index remains positive.
Resistance: 18000/18200
Support: 17700/17500

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