Looks like a ledge forming at 7.0-7.7 Historically this has not...

Looks like a ledge forming at 7.0-7.7
Historically this has not been support or resistance
The green shot on Monday hit 7.7 and closed back to 7.4 on some 26M volume inc ChiX
Still this volume is pathetically small to SOI as 1.0%.

When we see volume of 130M of 5% in a day then we know an INSTO like UBS Citi NatNom BNP JPM might be selling as I cant see AF BMM CS selling on the upside.
Some INSTOs averaging at theCR of 18c & 5c around 9c might be tempted to sell at 10c-20c but so far looks like only retailers & ST have been selling on this 2nd wave spike 6c-8c

Itchi once said watch the volume confirmation & looked like accumulation was going on last year
Now looks like there are not many sellers at this low ledge level.
As Itchi hasnt changed his views on TA I assume his prior call stands, albeit 1 year late, which is bullish.

@badhan
Got the broker data for 9 Oct to 13 Oct?
That will reveal all. Who was the seller & who were the buyers.

There are no bananas down here, nothing to see, they are higher up,
CLIMB monkeys CLIMB