1. Trend Identification
Bearish Bias:
The price is trading below the 200-period moving average (red line), indicating overall bearish momentum.
The Point of Control (POC) at 19,449.24 represents a high liquidity area, acting as a strong resistance level.
Short-Term Consolidation:
The price is oscillating around 19,375, suggesting market indecision before a breakout or breakdown.
2. Key Support & Resistance Levels
Immediate Resistance: 19,400 - 19,450 (POC and recent highs).
Immediate Support: 19,300 (lower consolidation boundary).
Stronger Support: 19,000 (psychological level & lower trend channel).
Upside Target: 19,500 - 19,600 (breakout scenario).
3. Volume Analysis
Last 120 Bars: Up Volume < Down Volume by -15.53%, indicating stronger selling pressure.
Last 60 Bars: Up Volume < Down Volume by -10.28%, reinforcing short-term bearish dominance.
Interpretation:
Bearish Sentiment Dominates: Selling pressure is higher, increasing the probability of a breakdown below 19,300.
If buyers regain control near 19,300, a bounce toward 19,450 is possible.
4. Chart Patterns & Projections
Bearish Breakdown Scenario: If price fails to hold 19,300, it could drop to 19,000 (blue channel projection).
Bullish Reversal Scenario: A breakout above 19,450 could trigger a move toward 19,500 - 19,600.
Trade Setups & Risk Management
1. Short Trade Setup (Bearish Breakdown)
Entry: Sell below 19,300 (confirmed breakdown).
Stop-Loss: Above 19,400 (previous resistance).
Targets:
First Target: 19,150 (mid-support).
Final Target: 19,000 (key support).
Risk-Reward Ratio: 1:2 or better.
2. Long Trade Setup (Bullish Breakout)
Entry: Buy above 19,450 (confirmed breakout).
Stop-Loss: Below 19,375 (recent consolidation zone).
Targets:
First Target: 19,500 (local resistance).
Final Target: 19,600 (upper channel).
Risk-Reward Ratio: 1:3 or better.
Bearish Bias:
The price is trading below the 200-period moving average (red line), indicating overall bearish momentum.
The Point of Control (POC) at 19,449.24 represents a high liquidity area, acting as a strong resistance level.
Short-Term Consolidation:
The price is oscillating around 19,375, suggesting market indecision before a breakout or breakdown.
2. Key Support & Resistance Levels
Immediate Resistance: 19,400 - 19,450 (POC and recent highs).
Immediate Support: 19,300 (lower consolidation boundary).
Stronger Support: 19,000 (psychological level & lower trend channel).
Upside Target: 19,500 - 19,600 (breakout scenario).
3. Volume Analysis
Last 120 Bars: Up Volume < Down Volume by -15.53%, indicating stronger selling pressure.
Last 60 Bars: Up Volume < Down Volume by -10.28%, reinforcing short-term bearish dominance.
Interpretation:
Bearish Sentiment Dominates: Selling pressure is higher, increasing the probability of a breakdown below 19,300.
If buyers regain control near 19,300, a bounce toward 19,450 is possible.
4. Chart Patterns & Projections
Bearish Breakdown Scenario: If price fails to hold 19,300, it could drop to 19,000 (blue channel projection).
Bullish Reversal Scenario: A breakout above 19,450 could trigger a move toward 19,500 - 19,600.
Trade Setups & Risk Management
1. Short Trade Setup (Bearish Breakdown)
Entry: Sell below 19,300 (confirmed breakdown).
Stop-Loss: Above 19,400 (previous resistance).
Targets:
First Target: 19,150 (mid-support).
Final Target: 19,000 (key support).
Risk-Reward Ratio: 1:2 or better.
2. Long Trade Setup (Bullish Breakout)
Entry: Buy above 19,450 (confirmed breakout).
Stop-Loss: Below 19,375 (recent consolidation zone).
Targets:
First Target: 19,500 (local resistance).
Final Target: 19,600 (upper channel).
Risk-Reward Ratio: 1:3 or better.
Bharat Pandya @ProspireWealth
+91 9624044866
pandyabn76@gmail.com
+91 9624044866
pandyabn76@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Bharat Pandya @ProspireWealth
+91 9624044866
pandyabn76@gmail.com
+91 9624044866
pandyabn76@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.