Today market showed a highly volatile session and finally closed in red. On the basis of daily charts and reports we are witnessing a narrow range body formation which suggests a consolidation phase may be seen in next trading.
For tomorrow trading session, if indices trade convincingly above 18,360 / 5,480 levels then it is likely to test 18,450- 18,590 / 5,530 - 5,550 - 5,575 levels. On the down side, 18,185 - 18,080 / 5,432 - 5,400 are crucial support levels for the indices and any close below 18,080 / 5,400 levels may intensify the selling pressure.
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