We are seeing a very sharp movement on the upside from the past 3 trading sessions.
Today Index opened the gap -up, but did not sustain the higher levels, saw some sell-off, and closed in red forming a moderate candle( Not very useful)
Though one can notice, open and high price is same, and the price is also near strong resistance. i.e 16800-17000.
Hence it looks like as long as these levels are resisted, we might see weakness again in the Index if it breaks 16500 levels in the first hour or opens a gap down below it.
Levels for tomorrow :
Support 16520-16450
Resistance 16760 - 16800
Bullish above 17000 levels
Today Index opened the gap -up, but did not sustain the higher levels, saw some sell-off, and closed in red forming a moderate candle( Not very useful)
Though one can notice, open and high price is same, and the price is also near strong resistance. i.e 16800-17000.
Hence it looks like as long as these levels are resisted, we might see weakness again in the Index if it breaks 16500 levels in the first hour or opens a gap down below it.
Levels for tomorrow :
Support 16520-16450
Resistance 16760 - 16800
Bullish above 17000 levels
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.