Profit-Taking Dominates BIST 100 as Index Retracts to Support Zone

Diminishing global risk appetite and domestic profit-taking drove Borsa Istanbul (BIST 100) to a negative close, with the index testing critical technical support levels.

Sectoral Divergence and Volume Dynamics

■Selling pressure in banking stocks approached 1.5%, while overall trading volume settled at 80 billion TRY.

■Contraction in industrial and technology indices caused the main index to slip below the 10,500 point band.

■Shifts in foreign ownership ratios indicate the closure of short-term positions.

Signal Shift in Technical Indicators

■The index, falling below the Ichimoku cloud, confirms the weakening of the short-term trend.

■At Fibonacci retracement levels, the 10,300 support creates a significant reference point for algorithmic trades.

■The intersection of moving averages (MA50 and MA100) continues to form resistance around the 10,450 region.

Our algo-trading models indicate that the exit from the overbought zone in momentum oscillators, alongside rising volatility, could signal the start of a new wave. The current correction should be viewed as a reaction within the medium-term uptrend; however, a break below 10,250 should be monitored as a stop-loss level.