Bearish AB-CD (it can also be a Bearish Gartley pattern). Price attempted to break below 200 DMA but could not and in the process made a Hammer. So below 200 DMA, price may see the levels marked on the chart. There is a Negative Divergence on Stochastic.
Pivot Point: 2732. 1st support 2697, and 2nd support 2665.
As per OI Table there is a strong support at 2600 and strong resistances at 3000 (highest OI Call strike) and 2800. So it is important for bears to push price below 200 DMA (2787) to achieve the mentioned targets.
Channel support and resistance are worth noting and the same match well with other studies provided above.
Judicious hedging can be quite pragmatic. Attractive RR Ratio.
Pivot Point: 2732. 1st support 2697, and 2nd support 2665.
As per OI Table there is a strong support at 2600 and strong resistances at 3000 (highest OI Call strike) and 2800. So it is important for bears to push price below 200 DMA (2787) to achieve the mentioned targets.
Channel support and resistance are worth noting and the same match well with other studies provided above.
Judicious hedging can be quite pragmatic. Attractive RR Ratio.