Current Status: The index is at 162,271, down 98 points (-0.08%), showing consolidation near key support levels.
Key Technical Observations:
Channel Structure: The index has been trading within a well-defined ascending channel (white lines) since August. Price is currently testing the lower boundary of this channel around 162,000-162,500, which coincides with horizontal support.
Critical Support Zone: The current level around 162,000 represents a significant support area where price has bounced multiple times in recent weeks. This is also where the rising channel support meets previous resistance-turned-support.
Trend Line: The blue ascending trendline from the August lows provides additional dynamic support around 160,000. This represents the last major defense for bulls before a deeper correction.
Pattern: Price has formed lower highs since early October, suggesting weakening momentum within the channel. The recent decline from 169,000+ shows sellers gaining control.
Outlook:
Bullish scenario: A bounce from current levels could target the channel midpoint around 165,000-166,000
Bearish scenario: A break below 162,000 would likely test the blue trendline near 160,000, with further downside to 158,000 if that fails
Key Levels:
Resistance: 164,000 | 166,000 | 169,000
Support: 162,000 | 160,000 | 158,000
The index is at a critical juncture - holding 162,000 maintains the uptrend structure, while breaking it signals potential correction to lower channel support.
Elite Invest Market Insight ⚠️
The market is very choppy these days even I haven’t entered fully, except for a few low-exposure trades, as the risk level is quite high.
Currently, the market keeps rotating its focus daily, and this is the time of year when many traders end up losing the profits they made over the last three quarters.
🧭 How to safeguard yourself in this environment:
Take as few trades as possible focus on quality, not quantity.
Book profits whenever your trades are in green.
Reduce exposure and offload positions that are at break-even or minor loss.
Free up cash so you can enter only when there’s a high-probability setup with strong confirmation.
Patience and discipline will protect your capital in volatile times like these. Remember cash is also a position. 💡
Key Technical Observations:
Channel Structure: The index has been trading within a well-defined ascending channel (white lines) since August. Price is currently testing the lower boundary of this channel around 162,000-162,500, which coincides with horizontal support.
Critical Support Zone: The current level around 162,000 represents a significant support area where price has bounced multiple times in recent weeks. This is also where the rising channel support meets previous resistance-turned-support.
Trend Line: The blue ascending trendline from the August lows provides additional dynamic support around 160,000. This represents the last major defense for bulls before a deeper correction.
Pattern: Price has formed lower highs since early October, suggesting weakening momentum within the channel. The recent decline from 169,000+ shows sellers gaining control.
Outlook:
Bullish scenario: A bounce from current levels could target the channel midpoint around 165,000-166,000
Bearish scenario: A break below 162,000 would likely test the blue trendline near 160,000, with further downside to 158,000 if that fails
Key Levels:
Resistance: 164,000 | 166,000 | 169,000
Support: 162,000 | 160,000 | 158,000
The index is at a critical juncture - holding 162,000 maintains the uptrend structure, while breaking it signals potential correction to lower channel support.
Elite Invest Market Insight ⚠️
The market is very choppy these days even I haven’t entered fully, except for a few low-exposure trades, as the risk level is quite high.
Currently, the market keeps rotating its focus daily, and this is the time of year when many traders end up losing the profits they made over the last three quarters.
🧭 How to safeguard yourself in this environment:
Take as few trades as possible focus on quality, not quantity.
Book profits whenever your trades are in green.
Reduce exposure and offload positions that are at break-even or minor loss.
Free up cash so you can enter only when there’s a high-probability setup with strong confirmation.
Patience and discipline will protect your capital in volatile times like these. Remember cash is also a position. 💡
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لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.