The market had its moment of drama this week, closing around 26,068, and the price action left behind what’s almost a shooting star / evening star pattern on the daily chart. Not exactly the comforting kind of celestial event — more like the “brace yourself” type.
Key Levels to Watch
Support Zones:
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26,030
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25,875
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25,715–25,740
Resistance Zones:
26,105
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26,180
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26,250
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26,300
The structure isn’t screaming collapse, but it’s definitely giving side-eye. A negative divergence has printed on the daily chart — and that alone is enough to make bulls sweat a little.
Market Mood: Not Feeling the Bullish Energy
Even though the charts aren’t outright bearish, the overall vibe isn’t enthusiastic either. I’m not getting those “rocketship” signals. Until Nifty gives a decisive breakout above 26,300, chasing longs feels like forcing optimism.
My Bias for the Week: Slightly Bearish
The plan is simple: sell on rise near resistance. That seems like the cleaner, safer trade until Nifty proves otherwise. For now, caution > confidence.
Bottom Line
The market isn’t breaking down, but it’s not inspiring confidence either. Stay nimble, respect the levels, and don’t fall for fake optimism. A strong breakout above 26,300 would change the tone — until then, keep your hedges sharp and your expectations realistic.
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