Market is taking a deep dive after all time high.
It has touched 191032 which is highest ever index position
Post all time high it has taken correction for almost 9.31% which are almost 17785 Points.
now there are many factors behind this correction.
Including Overall situation , T+1 settlement and most importantly the FVG which was mandatory to be filled.
I am always hopeful that it should cross 200K target as soon as possible.
Our recent rally from 137K to 191K was reflected in the form of a bullish flag pattern
Now to make next bull run its mandatory to fulfill the requirement of ABCD pattern and needed retracement.
In the chart the support level from s1 to s4 are mentioned.
deeper the retracement the stronger would be the uptrend.
Always keep in mind that market can go in sideways direction for weeks and months ( almost year).
Note: As per time based Fibonacci the second week of march is important for the index.
Its not a buy sell call or any financial advice but my technical understanding about market structure
Regards
Ali Safwan
It has touched 191032 which is highest ever index position
Post all time high it has taken correction for almost 9.31% which are almost 17785 Points.
now there are many factors behind this correction.
Including Overall situation , T+1 settlement and most importantly the FVG which was mandatory to be filled.
I am always hopeful that it should cross 200K target as soon as possible.
Our recent rally from 137K to 191K was reflected in the form of a bullish flag pattern
Now to make next bull run its mandatory to fulfill the requirement of ABCD pattern and needed retracement.
In the chart the support level from s1 to s4 are mentioned.
deeper the retracement the stronger would be the uptrend.
Always keep in mind that market can go in sideways direction for weeks and months ( almost year).
Note: As per time based Fibonacci the second week of march is important for the index.
Its not a buy sell call or any financial advice but my technical understanding about market structure
Regards
Ali Safwan
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.