April 27 Afternoon Analysis

This wave of rally starting from 77,700 and directly surging to 79,455 is a fundamentally trend-based move. The moving averages have been in a bullish alignment and steady before the sharp decline, indicating that large institutional long positions haven't been moved.
This sell-off, to put it simply, is just a concentrated realization of short-term profit-taking, a typical shakeout move, not a trend reversal.
The area around 77,000 below is a key support from the previous consolidation platform and also the defensive line of the lower Bollinger Band. The price has already shown clear signs of stabilizing here, with bearish selling pressure rapidly clearing out, and a bullish rebound could start at any time.
My personal suggestion, consistent with the morning outlook, is to go long around 76,500-70,000, with a stop below 76,000, targeting 78,000-79,000.