The expiry was rangebound but held 21000-21150 decisively, closing the day back within the trend channel. A strong buy by DIIs, a weakening Dollar, a double bottoming out of Stochastics on the hourly chart and maintaining the rising trend channel, all point towards a retracement against the recent fall of roughly 2000 points on the index. So, one can expect a retracement of at least 1000 points from 21100. By that logic, the index should be trading above 22000 in the coming week.
On the upside, the 2 weeks' EMA is placed at around 21800 beyond which a major hurdle lies at 22040. If the index manages to breach 21800 with volume, one can look at going long for a target of 22040 to 22480 ultimately.
On the downside, there are multiple supports within 100 points range which are placed at 21000-20900-20800. In case the trend channel is broken again, with a gap down and a dead cat bounce, the index can correct up to the above levels, and a decisive breach of 20800 would further lead to corrections of up to 20500-20100.
The broader range of next week's expiry should remain between 21000 and 22500.
*Note:- The levels mentioned above should be used as approximation.