Type

Bullish Bounce

Support: 28128.94

Pivot: 28379.38

Resistance: 28701.37

Preference: With price above the moving average, we are expecting a rise from pivot at 28379.38 in line with the 50% Fibonacci retracement which is also a horizontal overlap support to 1st resistance at 28701.37 which is a horizontal swing high resistance.

Alternative Scenario:

Alternatively, price may break pivot structure and head for 1st support at 28128.94 in line with the 38.2% Fibonacci retracement.