Markets has formed a death cross sign on the weekly chart indicating a major breakdown ahead in coming days. Previously you can also witness the similar pattern and the similar action. Since there so many gap ups and gap downs in the market recently.
Markets looking for a support around 16900 and resistance around the 17450. For coming week this would be the most likely range. Financials are looking weak and one can enter into the fresh trade of Speciality chemicals and the defence space along with IT sector.
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