Selling Pressure Grips TASI Once More

TASI came under heavy selling pressure last week after facing rejection right at the trendline resistance highlighted in our earlier analysis.

With five consecutive sessions in the red, the index is now testing its trendline support. The 10,600–10,700 zone remains the key level to watch, expected to cushion the market as it has in the past.

A decisive break below this zone, however, could trigger a sharper fall.

In such a bearish environment, fresh long positions should be avoided. Sentiment will only begin to improve once the index sustains above 11,000. Until then, caution is key.