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TASI continued its downward momentum, dropping more than 1.5% and ending the week slightly above the 11,000 level.
This level is likely to provide short-term support, as there’s a visible gap in this zone. However, if the index breaks below this support, the next 500-point drop could come very quickly.
As of now, there are no bullish price action signals that indicate a potential trend reversal. The broader structure still looks bearish.
Trading Insight:
Traders should remain cautious and wait for clear price action before initiating fresh positions.
Arijit Banerjee CMT CFTe is a seasoned expert in the financial industry, boasting decades of experience in trading, investment, and wealth management. As the founder and chief strategist of Naranj Capital, he’s built a reputation for providing insightful research analysis to guide investment decisions.
Arijit’s credentials are impressive, holding both the Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) designations. These certifications demonstrate his expertise in technical analysis and financial markets.
Through Naranj Capital, Arijit shares his market insights and research analysis, offering actionable advice for investors. His work is featured on platforms like TradingView, where he publishes detailed analysis and recommendations.
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