Key Technical Levels to Watch in the Stock Market
The stock market is currently facing a critical juncture as it approaches key technical levels. Traders and investors are closely monitoring the 4800 level, which was a previous resistance level and is now expected to act as a strong support level. This level holds significant market memory and is likely to attract attention from market participants. Moreover, the 4700 level is seen as a hard floor in the market, with the additional support of the 50-day EMA. A break below this level would require a complete reassessment of the market outlook. However, such a scenario seems unlikely in the near future, as the market would need a substantial change in attitude to breach these support levels.
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