Support Levels:
1. 42827: This is the initial support level. If the market opens above this level, it can act as support if prices dip.
2. 42500: If the market trades lower, this level is another potential support level.
Resistance Levels:
1. 43097 to 43146: This range represents initial resistance. If the market reaches this level, it may face selling pressure.
2. 43146: If the market breaks above this level, it could signal an upside move.
3. 43584: This is another resistance level to watch for an extended upside move.
Important Notes:
- While support and resistance levels are valuable, other factors such as market news, economic data, and global events can also impact the market. Always consider these factors in your trading decisions.
- Market behavior can change rapidly, and it's essential to have a strategy in place, including stop-loss orders to manage risk.
- Market volatility can increase around expiry dates, so be cautious when trading near expiration.