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The NSE index looks neutral in the 11,301.42 to 11,390.99 range and a break may give it further direction.
These levels are identified as the 38.2 per cent Fibonacci retracement level of the uptrend from the October 26, 2018 low to the June 3, 2019 high, and the 123.6 per cent Fibonacci projection level of the downtrend from the June 3 high to the June 19 low.
A break above 11,390.99 may lead to a further rise in the range of 11,503.78 and 11,607.8.
A break below 11,301.42, though, will also lead to a break-down of the 200-day exponential moving average, which is seen as a bearish sign from the medium- to long-term perspective.
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