Price attempted an upside move and attracted buyers but failed to sustain above resistance. As price reached the pre-marked supply area 25450 selling pressure increased and the market clearly rejected at these levels.
Despite the initial effort to move up, the result was weak — a strong sign that demand was not genuine at higher prices, it must breakout 25450 for real buying.
Late buyers who chased the move are now trapped near the top, while stronger hands used the strength to sell. Although Budget Day is news driven day.
key level:
strong resistance 25450
weak support =25150
strong support=24950
Despite the initial effort to move up, the result was weak — a strong sign that demand was not genuine at higher prices, it must breakout 25450 for real buying.
Late buyers who chased the move are now trapped near the top, while stronger hands used the strength to sell. Although Budget Day is news driven day.
key level:
strong resistance 25450
weak support =25150
strong support=24950
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