We closed last week with strong bullish momentum, establishing resistance at 73,475 and support around 72,600 ā€” a solid higher-low structure indicating buyer strength.
Going into the new week:
Bias: Bullish continuation
Price is holding above key support, suggesting sustained buying pressure
Market structure still favors higher highs unless support breaks
Key Levels to Watch šŸ‘‡
Support: 72,600
Minor Resistance: 73,475
Psychological Resistance: 74,000
Trade Idea šŸ’” Iā€™m anticipating a push into 74,000, which is a key psychological level.
If price breaks and holds above 74K ā†’ continuation toward 74,600 is likely
If rejected at 74K ā†’ expect a healthy pullback (possibly toward 73Kā€“72.6K zone) before the next leg up
Targets šŸŽÆ
TP1: 74,000
TP2: 74,600
Invalidation āŒ
A strong break below 72,600 support could shift momentum and open downside liquidity
Summary:
Trend remains bullish, but watch for rejection at 74K. A pullback wouldnā€™t break the trend ā€” it may actually provide a better entry for continuation longs.