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What’s happening?

The index confirmed a valid inverted head-and-shoulders breakout near the 6500 level.

Post-breakout, it rallied, retraced, and held firm at the neckline – a strong sign of support

After briefly dipping below the key 200-day moving average, it reclaimed that level yesterday

The index is now trading sideways just above its immediate support at 6500

The weekly chart hints at a bullish flag breakout in the making

What does this mean?

As long as critical support at 5900 (April 7 low) holds, there’s potential for a move toward 7500 – that’s a 12% upside from the last close.

A daily close above 6840 will confirm bullish momentum and strengthen the case for further gains

Risks to watch:

Keep an eye on doji candlesticks – historically, they’ve signaled reversals

A decisive break above 6840 will be key for the bulls to stay in charge.

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