● A detailed examination of the daily chart reveals the emergence of an Inverted Cup and Handle pattern, suggesting a bearish outlook.
● However, the index is currently hovering above the critical support level of 23,500, while attempting to establish a foothold above the 200-period EMA, a key dynamic support.
● Furthermore, options data indicates a significant concentration of put writers at the 23,500 strike price, lending additional credence to the support zone.

● Given these technical and sentimental factors, we expect the index to remain in a consolidative phase over the next month, as market participants await a clear catalyst for direction.
● However, the index is currently hovering above the critical support level of 23,500, while attempting to establish a foothold above the 200-period EMA, a key dynamic support.
● Furthermore, options data indicates a significant concentration of put writers at the 23,500 strike price, lending additional credence to the support zone.
● Given these technical and sentimental factors, we expect the index to remain in a consolidative phase over the next month, as market participants await a clear catalyst for direction.
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🎖️ SEBI registered INH300006582
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t.me/GoodluckCapital
🤝 Contact Us
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🌐 goodluckcapital.com
🎖️ SEBI registered INH300006582
🎖️ CMT(usa) & CFTe(usa) chartered
🎖️ NSE certified professionals
📈 Trading and Investment Advice
t.me/GoodluckCapital
🤝 Contact Us
bio.link/GoodluckCapital
🎖️ SEBI registered INH300006582
🎖️ CMT(usa) & CFTe(usa) chartered
🎖️ NSE certified professionals
📈 Trading and Investment Advice
t.me/GoodluckCapital
🤝 Contact Us
bio.link/GoodluckCapital
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.