Key Levels & Trading Plan for the Current Market Trend1. Identified Key Levels
Type Price Level (Approx.) Significance
Major Resistance 22,700 - 22,800 Previous support turned resistance; strong rejection possible.
Minor Resistance 22,400 - 22,500 Short-term bounce zone; potential sell-off area.
Current Price Zone 22,100 - 22,200 Market hovering near key support; decision point.
First Major Support 21,800 - 21,900 Next critical level; breakdown could accelerate selling.
Second Major Support 21,500 - 21,600 Deeper demand zone; last line of defense before more downside.
2. Trading Strategies Based on Key Levels
Bearish Continuation Trade (Higher Probability)
• Entry: Look for a pullback to 22,400 - 22,500 for short positions.
• Stop-Loss: Above 22,700 to avoid getting trapped in a fakeout.
• Take-Profit 1: 21,900 - 22,000 (First major support).
• Take-Profit 2: 21,500 (Next strong support).
Bullish Relief Rally (Lower Probability)
• Entry: If price forms a bullish engulfing candle + high volume around 21,800 - 22,000.
• Stop-Loss: Below 21,600 to limit downside risk.
• Take-Profit 1: 22,400 - 22,500 (Short-term bounce area).
• Take-Profit 2: 22,700 (Stronger resistance).
3. Risk Management & Confirmation Signals
• Bearish Confirmation:
• Price rejection at resistance (22,400-22,500).
• Low bullish volume on pullbacks.
• Large red candles breaking support.
• Bullish Confirmation:
• Strong reversal candle at key support.
• Increase in buying volume.
• Break above 22,400 with momentum.
Final Outlook
• Primary Bias: Bearish → Look for short opportunities on pullbacks.
• Secondary Bias: Bullish only if price shows strong reversal near 21,800 - 21,900.
