SGX NIFTY

SGX NIFTY

Expect volatility between 15950 and 15413.

Immediate support is at 15658.

Support will be under pressure.

RSI is falling whereas price progression not happening.

Resistance comes from the horizontal line.

Breakout and close above 15950 is essential at the earliest.

MACD is below it average
which indicates that momentum is being lost.
Profit booking is more dominant as price breakout and
progression not happening since June 2021 peak.

The movement appears to developed a horizontal channel.

If fall and closes below 15658 then expect the lower
side of the horizontal line to be tested as seen on chart.