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A ‘Spinning Top’ formation appearing right after a bullish ‘Marubozu’ candlestick indicates a temporary pause rather than a sign of major weakness. This setup suggests that a strong upward move will likely resume only once the index decisively clears the 22,800 level. On the downside, meaningful pullbacks may only emerge if the index breaches the 22,270–22,300 support zone. The gap formed during yesterday’s session will act as a critical pivot until the index surpasses the 22,850 hurdle. Until then, expect the index to trade within a broader 21,800–22,800 range with minimal chances of a major breakdown. Options data further reinforces support at 22,300 and 22,500, while keeping the upside potential open towards 22,800. Traders are advised to hold on to long positions as long as the pattern support at 21,740 remains intact on a closing basis. However, with volatility likely to rise, chasing breakouts may not be ideal— intermittent pullbacks will provide better opportunities for fresh entries. Aggressive longs should only be considered if the index sustains above 22,850.

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