📊 Technical Trend & Pattern
The index is forming a Triple Bottom pattern, signaling strong accumulation and potential bullish reversal from the 23,600 – 23,700 support zone. Price is currently testing neckline resistance around 23,800, and a breakout above this level could confirm upside momentum.
🔎 Key Levels
Support / Stop Out Zone: 23,600 – 23,650
Immediate Resistance: 23,800
Target Zone: 23,920 – 23,950
⚡ Fundamental Outlook
Market sentiment remains cautious but supported by optimism around U.S. tech earnings and macroeconomic stability. If positive catalysts continue, the index could extend gains toward the 23,927 target zone.
📈 Trading Idea
Bullish bias above 23,700 with confirmation on neckline breakout. A sustained move could open room toward 23,927+. Failure to hold support may trigger stop-outs below 23,600.
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The index is forming a Triple Bottom pattern, signaling strong accumulation and potential bullish reversal from the 23,600 – 23,700 support zone. Price is currently testing neckline resistance around 23,800, and a breakout above this level could confirm upside momentum.
🔎 Key Levels
Support / Stop Out Zone: 23,600 – 23,650
Immediate Resistance: 23,800
Target Zone: 23,920 – 23,950
⚡ Fundamental Outlook
Market sentiment remains cautious but supported by optimism around U.S. tech earnings and macroeconomic stability. If positive catalysts continue, the index could extend gains toward the 23,927 target zone.
📈 Trading Idea
Bullish bias above 23,700 with confirmation on neckline breakout. A sustained move could open room toward 23,927+. Failure to hold support may trigger stop-outs below 23,600.
👍 Like this analysis & 🔔 Follow me for more trading updates and ideas.
💬 What’s your view? Drop your comments and ideas below!
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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.