The analysis is done on a weekly chart.
Since April 2021, the index has been traveling in a parallel channel-like formation. Last month, it touched the upper level of the channel. Now it seems to come down according to the setup. If it does not cross the high made in February 2026, it may go down to the levels of 45000/43200/ 41500.
MACD movement should be considered, too.
All this illustration is only for educational and learning purposes. It is not buy or sell advice.
Your views are welcome.
Happy Holi to all of you.
Since April 2021, the index has been traveling in a parallel channel-like formation. Last month, it touched the upper level of the channel. Now it seems to come down according to the setup. If it does not cross the high made in February 2026, it may go down to the levels of 45000/43200/ 41500.
MACD movement should be considered, too.
All this illustration is only for educational and learning purposes. It is not buy or sell advice.
Your views are welcome.
Happy Holi to all of you.
Trade active
Going below 46400. Let's see ahead.Note
Touched 45160 on 23.03.26Trade closed: target reached
Reached the first target of 45000. 
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.
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.