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TASI extended its downward momentum last week, breaking below the long-term trendline support and is now trading just above the horizontal support zone.
The breakdown has weakened the broader structure and reduced the probability of any meaningful rebound in the near term.
One small positive came from the last trading session, where the advance–decline ratio (a measure comparing the number of gaining stocks to those declining) stayed neutral, suggesting some underlying stability despite weakness.
Market sentiment is expected to turn positive only if the index sustains a move above 11,000.
For now, 10,600 is the key level to watch. A breakdown below this support could trigger further declines in the coming weeks.
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
