After a long subdued sessions markets witnessed a positive opening and momentum on the upside intensified as the day progressed which lead the indices to close near days high.
On an intraday chart, we are witnessing that prices have tested the upper trendline of the channel. Any breakout of the channel could lead the indices to test 18,400 - 18,540 / 5,510 - 5,565 levels. On the downside, 17,870 - 17,760 / 5,350 - 5,320 may act as support for the day.
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