The Index has made a trendline breakout on a Daily time frame. Previous Candle have closed above the trendline, today we saw this sustaining suggesting that the trend is continuing. The Index is expected to move high with a small retracement from higher levels. The width of the candle is also telling that the buyers are very much interested in buying the index at higher levels as well and the volume on the candle is high which is a good sign.

The RSI is following the price and is near 80 which is a concern, but we can expect the index to move high and consolidate at a higher level. We can expect it to move higher than 80 as well.

The MACD is also suggesting strength and the crossover is seen which is giving a confirmation.

ICHIMOKU is also suggesting strength, the lagging line in the ICHIMOKU is strengthening.

Advice : Buy if the closing is above the previous close.

JP225

Sep 06 2021