• Index has risen for 16 consecutive weeks with a gain of 16%. With this move, Index has formed an all-time high level at 19500 level
• In the last trading session of the week, Index witnessed selling pressure which breached 3 days low. Index has faced selling pressure at 19500 which is the highest call base and psychological level
• On a weekly chart, Index has formed a bearish shooting star pattern but it has less implication as it is forming at an all-time high level
• The index has immediate support at the 19250 level. Moving below the 19250 level can lead to further pain up to the 19000 to 18800 range. Fresh upside movement can be considered above the 19500 level
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