Nifty- Takes support at camarilla R3, close above 50/100/200EMA

Nifty consolidated for yet another day in a narrow range....will we be able to witness a breakout from these levels? Maybe tomorrow or on Friday. Vix has increased to 24.75 so volatility will continue. PCR has fallen sharply to 0.55 which contra indicates a rally. If the rally challenges 17300, we could see a rally to cover shorts. R4 level could be in play (17670). CPR is narrow, so a trending day could be seen again. Global cues remained worrying and global markets gave up gains, same was reflected in our market. FIIs again bought for 481cr, DII sold 294cr net FII/DII 187cr buying was too little for the market to sustain. If the net buying supports the market tomorrow,then strong R3 level could provide a bounceback. What do you think?