Thanks for pointing out. I meant 11400 only
One might well ask why expecting a low? If we see prices bar by bar, usually trades are done by computers and every close is the open price for the next bar (in a 5 minute chart). Very rarely there is disruption in this pattern. But on Friday and today, every candle shows jumps and gaps in prices which makes me think there are powerful pulls in both directions. There is a gap to be filled and 11400 is the next support. Similarly further fall can take us to 11320 and 11250 as well.
One might well ask why expecting a low? If we see prices bar by bar, usually trades are done by computers and every close is the open price for the next bar (in a 5 minute chart). Very rarely there is disruption in this pattern. But on Friday and today, every candle shows jumps and gaps in prices which makes me think there are powerful pulls in both directions. There is a gap to be filled and 11400 is the next support. Similarly further fall can take us to 11320 and 11250 as well.
Also, lets say 11400 and 11600 are key support / ress zones, so it is again obvious that more mkt participants will get in and therefore liquidity will improve there. Apart from that time of the day is also a factor. Volumes aren't consistent throughout the day.