10/03/25

 


  1. Uptrend in the Morning:

    • The market showed a strong upward movement initially, with green candles forming higher highs and higher lows.

  2. Sideways Movement:

    • Around mid-day, the price consolidated and moved sideways with a mix of red and green candles, indicating indecision.

  3. Downtrend in the Afternoon:

    • A steady decline started after 13:00, with increasing red candles and lower highs forming.
    • The selling pressure intensified after 14:00, leading to a significant drop.

  4. Support and Resistance:

    • Resistance appears to be around 22,650 - 22,680 levels where the price failed to go higher.
    • Support seems to be forming around 22,420 - 22,440, where the price is currently hovering.

  5. Closing Near Lows:

    • The index closed near its intraday lows, suggesting weak sentiment.

Possible Trading Strategy:

  • If support at 22,420 breaks, further downside could be expected.
  • If it bounces, a retracement to 22,500 - 22,520 could be possible.

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