Hello and welcome to this analysis
The index has formed a Bearish Harmonic Deep Crab in the weekly time frame. It is currently in the PRZ zone of 9050-9400.
As of now its not showing any sign of weakness. If it starts sustaining below 9050 the bearish structure would get activated for 8600/8250. There is resistance between 9200-9250. One should wait for confirmation of weakness then look to exit longs and/or fresh shorts.
Fresh aggressive trading inside the PRZ should be avoided either side.
All the best
The index has formed a Bearish Harmonic Deep Crab in the weekly time frame. It is currently in the PRZ zone of 9050-9400.
As of now its not showing any sign of weakness. If it starts sustaining below 9050 the bearish structure would get activated for 8600/8250. There is resistance between 9200-9250. One should wait for confirmation of weakness then look to exit longs and/or fresh shorts.
Fresh aggressive trading inside the PRZ should be avoided either side.
All the best
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