TASI: At Resistance_Sideways Expected
TASI is receiving resistance from 12,325 level (a significant level).
Gap up opening was filled yesterday and the downtrend continues after taking correction from the specified resistance level (12,325).
Profit booking due to Week and Month closure will also drag the index down further to the levels of 12,000.00 (A significant/psychological support level).
It is expected that the price may remain sideways for a while between these two levels 12,000 to 12,325 (a good sign to build up foundation for further upside movement).
On weekly timeframe, price is moving in the same way (flipped) as in recent past.
Watchout for September events in US market.
Overall, We are Bullish on TASI.
Trade individual stocks with proper risk management.
Happy Trading!
Gap up opening was filled yesterday and the downtrend continues after taking correction from the specified resistance level (12,325).
Profit booking due to Week and Month closure will also drag the index down further to the levels of 12,000.00 (A significant/psychological support level).
It is expected that the price may remain sideways for a while between these two levels 12,000 to 12,325 (a good sign to build up foundation for further upside movement).
On weekly timeframe, price is moving in the same way (flipped) as in recent past.
Watchout for September events in US market.
Overall, We are Bullish on TASI.
Trade individual stocks with proper risk management.
Happy Trading!
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