Immediate support is placed in the 54,600-54,750 zone, followed by stronger support near 54,200 (21-day SMA) and 53,800. On the upside, resistance is seen around 55,600, followed by the key 56,500-57,000 zone, where the 100-day and 200-day moving averages converge. A decisive breakout above this area could trigger fresh momentum buying and pave the way for a move towards 58,000. Conversely, a failure to hold above 54,600 could result in renewed consolidation.
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