Price has recently broken through a key support level and near pivot level of 14034 in line with 38.2% Fibonacci retracement . Price can potentially dip to the support level of 13624 in line with the horizontal swing low support . Our bearish bias is supported by the ichimoku cloud indicator. Alternatively, price may go to 1st resistance level of 14407 in line with 78.6% Fibonacci retracement .
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results