- Major resistance - 17200
- The index is consolidating in narrow range between 17300 and 16872 for the past two trading session. It is currently trading around 17209.Short term trend is bullish as long as support 16750 holds.
- Market awaits FOMC monetary policy meeting which is to released today for further direction.
- On the higher side the index is facing minor resistance around 17300 any break above 17300 will take the index to next level till 17520/17870.
- The index major support is around 16750 and break below targets 16500/16000.
- Short term bullish invalidation only below 15500.
It is good to buy at dips around 16750 with SL around 16500 for the TP of 17300/17520/17870
