It is been observed on the hourly chart that the price action went up sharply to cover and fill previous gap down levels at 7970-80 levels and now facing resistance at current levels. If it closes above the resistance levels or the Gap levels then it may further go up or if it closes 7950 levels then it shall again go further down.
It is been observed that the price action formed a gap down situation in yesterday trading session, created a gap around 8680 levels, which may be filled by it today as the price action pushing toward the that gap zone at around 8660-8680 levels. Target: 8680 Stoploss: 8580
It is been observed that the price action breaks out from the consolidation between 5765-5635 levels on hourly chart and now it is heading towards the previous Gap Up to fill the gap. Target: 5500 Stoploss: 5700
For now, it seems like the price action shall take up prices to previous support level and will also fill up the Gap. The further price action will be decided once the gap is filled. Now it is important to note the price action whenever the prices touch previous support as high selling is expected at that levels which might take prices further down.
The price action has just completed the previous Gap and now it may reverse from the current levels and moving up to reach out for 49 levels again. If it breaks out from current levels, then we might see 46 levels. Take a good watch and it is ideal time to get it at minimum risk.