A Harami Pattern is seen in the index, An harami is a reversal candlestick pattern. We can expect the index to trade lower for a few points near its support zone. The only condition would be the index to close below the red line marked on the chart, if the index is able to close below the marked line we can expect the index to trade low. A 100 points of correction can be expected.

At the same time if the RSI closes below 52 we will get another confirmation to go short.

Wait for the breakout if the breakout is not seen, avoid entering short.

JP225

Sep 27 2021

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