At this time, the placement of 5 & 20 EMA on the daily chart suggests that positive momentum is likely to continue once indices trade convincingly above the Downward Sloping Trend Line which coincides with yesterday's high of 17,664 / 5,379. In such scenario, indices are likely to rally further towards 17,700 - 17,836 / 5,380 - 5,430 levels. Since the momentum oscillators on the hourly chart are in overbought zone, a consolidation or a minor pullback cannot be ruled out. On the downside, 5,375 - 5,300 levels can act as a decent support for the markets in coming trading session.
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