Day trading guide by Motilal Oswal Securities

Breakout from the wedge formation concluded the termination of the corrective move. The pattern confirmed the support at 7,700 & the rebound reassured the uptrend to remain firm.

A breach only below 7,700 would distort the ongoing bullish trend and hence, serves as a trail stop for longs.

The weekly formation compliments the existing bullish setup and augurs well for longs with an expectation of a breach above 8,000.