Monday market analysis , You want to find the Fupport and Resistance, Kya Karega Market

• Resistance at 24,628:

  • A price level where selling pressure is expected.
  • When the price reaches this level, it may struggle to go higher.
  • If the price breaks above 24,628, it could signal an upward move.
  • If the price fails to break this level, it may fall back down.

• Support at 24,250:

  • A price level where buying pressure is expected.
  • When the price reaches this level, buyers are likely to step in, pushing the price up.
  • If the price drops below 24,250, it may signal a downward trend.

• Importance of Support and Resistance:

  • These levels help traders predict whether the market will go up or down.
  • Prices may bounce between support and resistance levels.
  • Breaking either level could signal a change in market direction.
• Range Trading: Traders might buy near the support level at 24,250, expecting a rebound, and sell near resistance at 24,628, anticipating a reversal.
• Breakout Strategies: If the price breaks above 24,628, traders will look for confirmation to enter long positions. Conversely, if it breaks below 24,250, they will consider short-selling opportunities.
• However, if the price breaks below 24,250 with increased selling pressure, this support level is considered broken, signaling a potential further decline. In such cases, traders may revise their strategies and look for lower support levels.
• Support at 24,250 implies that any price drop toward this level may be met with strong buying interest. Traders view support as a key area to enter long positions, expecting the price to bounce back and continue its upward momentum.