Citigroup - India Technicals

Citigroup in their daily technicals say,

The index opened on a flat note and traded sideways in morning trade, after which it rose for the remaining part of the day’s trading. It posted an intra-day high at 4299, ending the day up 36 points.

The index is trading in an upward sloping channel, finding support at the lower end and resistance at the upper end. Channel projection on the upside is around 4355.

The index has support around 4245 and 4239 (10dma). Intraday dips are likely to find support around the 4245-4239 band.