12/03/25

 

Key Observations:

  1. Trend Analysis:

    • Initially, the market was in a downtrend, forming lower highs and lower lows.
    • Around 12:30 PM, the index started to recover, forming higher lows and higher highs.
    • A strong upward move is visible after 1:00 PM, indicating a bullish reversal.

  2. Support & Resistance Levels:

    • Support: Around 22360-22380, where buyers entered and pushed the price up.
    • Resistance: Around 22480-22500, where sellers started taking profits.

  3. Candlestick Patterns:

    • Bearish candles (red) dominated the first half, confirming the downward pressure.
    • Bullish candles (green) in the second half indicate recovery and renewed buying interest.

  4. Current Market Sentiment:

    • The price is hovering around 22,468, suggesting consolidation after the recovery.
    • If it breaks above 22,480, it could continue the uptrend.
    • If it falls below 22,440, another downward move could be expected.

Trading Insights:

  • Intraday Traders: Watch for a breakout above 22,480 or a breakdown below 22,440.
  • Swing Traders: If the uptrend sustains, it could lead to higher levels in the next sessions.

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