Yesterday, the index experienced strong positive pressure, aligning with its consistent trading above the key support level at 19145.00, which led to the formation of some upward waves as it faces a key barrier at 20000.00, representing the 61.8% extended Fibonacci level.

 

However, the repeated stability below this barrier confirms the price’s adherence to the bearish scenario, suggesting that new negative waves may form soon to push the price towards 19560.00. If that level is broken, trading may extend again toward the previously mentioned key support. Conversely, if the barrier is broken and the price stabilizes above it, the likelihood of a transition to a bullish scenario increases, with the price potentially targeting new positive levels, making 20180.00 the first positive target for the uptrend.

 

The expected trading range for today is between 19560.00 and 19950.00.

 

Today’s Price Forecast: Bearish due to barrier stability