Previously we traded on the same index and we have earned good points, there is another opportunity building. The index is correcting from it's all time high and we have seen corrections to be very strong, a rare retracement move has been seen. This Retracement was one of the largest retracements seen on the index in a 15min time frame. The Index retraced 0.50% of its downside move, if it would have retraced more than 0.618% we would have assumed that the downtrend is near an end, and we can expect the index to move upside. But this was not followed; the retracement was 0.50% fibonacci ratio. From there we can clearly see that the index is making LH and HL, which indicates that the sellers are pushing the price back down with an aggressive approach.

The Index is expected to correct more if it trades below 25790 for 30 mins.

The Rsi is following the price, if this is followed after index trading below 25790 we can be confirmed with the move.

MACD is trading just above 0. We can expect macd to trade below 0.

Sell

Jul 30 2021

4