BEARISH ENGULFING PATTERN formed on Oct 2021 has done its destruction already. Now a SHOOTING STAR followed by EVENING STAR kind of pattern near previous high & formed DOUBLE TOP.
38760_38790 & 37580_37750 are the support zones to watch out for any bounce till 39425 / 40324. Sustain below that 35620_36100 will be the next big support zone to be looked into for TREND REVERSAL sign. Failing to do so, 52 week low 32291 will be tested again. Index will be under pressure until DOUBLE TOP is not taken out. Let's look at nearest support zones for bounce/break.
38760_38790 & 37580_37750 are the support zones to watch out for any bounce till 39425 / 40324. Sustain below that 35620_36100 will be the next big support zone to be looked into for TREND REVERSAL sign. Failing to do so, 52 week low 32291 will be tested again. Index will be under pressure until DOUBLE TOP is not taken out. Let's look at nearest support zones for bounce/break.
Trade closed: target reached:
As expected bounced from support zone of 37580_37750 by making low 37386 and now moving towards 39425 / 40324
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