In today's session, the index formed another inside candle, though the range gets smaller than yesterday's session.
One thing to note here is that the index is continuously protecting the previous day's low, which is an indication that the index might be trying to create a base.
This base formation can be clearly seen on the intraday charts ( 15 min).
Yesterday and today's session has created a good support zone around 23590-23540, as long as these levels are held, chances are more than either index will move in a range or maybe retest its recent highs.
The immediate resistance zone is at 24057- 24090, above which, it may test 24500 and 25000 levels on the upside.
One thing to note here is that the index is continuously protecting the previous day's low, which is an indication that the index might be trying to create a base.
This base formation can be clearly seen on the intraday charts ( 15 min).
Yesterday and today's session has created a good support zone around 23590-23540, as long as these levels are held, chances are more than either index will move in a range or maybe retest its recent highs.
The immediate resistance zone is at 24057- 24090, above which, it may test 24500 and 25000 levels on the upside.
