The Index is trading near its high and we have seen some correction from the top. At the support we saw a harami pattern and reversal was seen on the upside.

The index is trading above its 5 and 23 EMA and a crossover is also seen, a fast moving average crossing the slow one from down.

The index has a resistance marked as red on the chart, which is going to play a crucial role ahead. Near the Resistance we are able to see the 0.618 retracement level as well so will wait for the index to close above that level at least 2 candles.

If the Index closes above the resistance zone for consecutive 2 candle buying can be seen.

We have missed an opportunity near the support so we need to wait for another opportunity so that we don't miss one.

Waiting for the index to close above the resistance zone would be that opportunity.

Make sure that the RSI follows the price move, if divergences are seen ignore.

Macd crossover is also seen on upside ignore the move.

Advice : Buy if the above condition is full fill.

Buying Nearby

Jul 26 2021

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