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The Tadawul All Share Index (TASI) extended its weakness last week, declining nearly 2% to close around the 10,450 level. The price action suggests the beginning of a fresh downward phase, with further downside potential likely in the near term.
On the downside, the immediate support zone lies between 10,300 and 10,400. A decisive break below this region could open the way for a deeper correction toward the 10,000 mark.
Conversely, a sustainable recovery is expected only if the index manages to reclaim and hold above the 11,000 level.
Until then, traders seeking long opportunities are advised to exercise caution and wait for clearer signals, as the market is likely to offer more favourable entry levels in due course.
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.
If you’re interested in learning more about Arijit’s work or Naranj Capital’s services, you can reach out to them directly through their website
