On the Up-down side

By a staff reporter: 

On the Upside :-

The level of 17250-17300 will be crucial. This market will enter a bullish phase only if it closes above 17300.

For Intraday basis:- Positive above 17231 R 17268, 17299/310 and then 17336/359.

Expected upper edge of Expiry :17359

On the down side :-

Until then, it will be sideways and choppy & even may fill the gap zone of 17161–17112 levels, registered on December 28. 17111 is a crucial 5 dma support too.

For Intraday basis:- Weak below 17160 S 17130, 17111 and then 17067.

Expected lower edge of Expiry : 17067

Summary Technically:- Immediate range 17100—17300. Extended range 17000-17400.

The Option Table data indicates decent support at 17000 and reasonable resistance at 17300.

Source : Eureka

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