On the weekly timeframe, it can be observed that the weekly candle has maintained a higher-high, higher-low formation which suggests improving undertone in the prices.
The index has been sustaining above its 38.2 percent Fibonacci retracement level (17,470) since the last five weeks which shows a good base formation around that levels on the weekly closing basis. This tells that the prices want to move on the higher side.

 
				
			 
										 
										 
										 
										 
										 
        		 
                 
                 
                