The Index is trading higher. A bear trap was seen in the index, where a breakout from a trendline was seen on the downside and a pullback was seen in the index which led the index to close near the trendline. For an index to take a breath we had made an envelope on the trendline so we don't get trapped in a move. If the index closes above the envelope we will trade on that side. If the index is able to close above the envelope, the index will trade above the EMA's, which is one of the strategies of MA which is successful in trending markets.

The RSI is following the price very well and is expected to do so.

If the stock closes above the ICHIMOKU we can expect the index to move higher.

Advice : Buy if the index closes above the ENVELOPE.

DJ30

Sep 28 2021