Selling Pressure is seen at the Top of the Index, sellers are pushing the price from higher level, If the sellers are able to take this move below 6800 and sustain below this level we can expect the index to trade low and buyers winding their position.

If the Index is able to sustain above the resistance zone we might see buyers getting more aggressive and sellers winding up the position.

Pure Divergence is seen in RSI due to which we might see some consolidation or retracement in the move.

MACD is showing a crossover from the top which suggests some retracement.

We won't be trading small retracements, we will trade when the buyers in the market start squaring off the position. I'm expecting Small buyers to Sq.Off their position if the index sustains below the mentioned level.

Opportunity is there to wait for the index to trade below the mentioned level, if it does start selling while maintaining a 1% SL.

Advice : Sell only below the mentioned level.

Only Risk Trader can Sell @ cmp with a SL of 1.5%

Selling Opportunity

Aug 06 2021

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